willow54 Hill

My brother is buying my share of inherited property left to us by our mother. He resides in the property and I have never lived there. I believe I will be required to pay CGT on the sale of my share. I wanted to know how the cost is calculated. House was valued for Probate just after the death - June 2023 with Probate administered in December that year. He applied for an equity release to fund my share and think that 300,000 was the valuation figure used for this (about April/May this year) but he doesn’t know for sure as the lenders don’t reveal the valuation. The original probate valuation of the house was 290000 and I am entitled to 25%. I’m concerned I don’t have paperwork for either of these valuations, I don’t live near the property and my brother and I are only speaking to each other to process the probate. I am about to receive the money in the next few weeks. I just want to make sure I do the right thing. I’m a basic rate tax payer and my share is around the 72000 mark.