Shearon Garrett
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RE: Capital gains tax on main residence
Thank you I will go back to my solicitor -
RE: Capital gains tax on main residence
The property was registered as Tenants in common, as my parents were married when the house was purchased and at the time when my mother died, her probate at that time devolved all of her estate interests to my father as there was no will. The only issue is that he did not advise the Land Registry of her death. Would CGT be applicable just because the Land Registry were not advised of her death ? -
Capital gains tax on main residence
My parents jointly purchased their home in the 1970s, my mother died in 1993 and probate was issued and the ownership automatically passed to my father but the Land Registry was not updated. My father died in 2023 and probate is being completed by a Solicitor. The Solicitor is also re-applying for probate for my mother due to the Land Registry not being updated. The house has now been sold and the Solicitor is indicating that capital gains tax may be required on the 50% of my mothers share of the property from the difference in the valuation in 1993 to the current sale price as the Land Registry was not updated. Please advise as this seems unreasonable.