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  • How to Pay CGT on a Property Sold By an Executor For an Estate

    In Oct 23, my Aunt left her all her estate (house plus investments) to four relatives. Two of the four beneficiaries are the executors of the estate. I am one of those executors. After grant of probate, the executors put the house on the market (it was not transferred in ownership to the beneficiaries) as they wanted the funds. The Estate has now sold the house for a sum in excess of the probate agreed value. Therefore CGT is owed on the value uplift. One of the beneficiaries has a CGT loss that they want to offset against their CGT gain from this inheritance. I have confirmed with your helpline that each beneficiary can make their own CGT declaration and pay their 25% of the tax bill within 60 days. Can each of the beneficiaries claim a £3000 CGT allowance against their bill - and how do you offset a CGT loss that has been accrued from the last tax year.