Kelvin Davies

My wife inherited a leasehold flat in a retirement community from her mother in December 2022. At the time of granting of probate in June 2023, the flat was valued at the amount it was then under offer for. Unfortunately that offer later fell through for personal reason of the buyer. Coincidentally, the management company therafter announced a significant rise in service charge and obtained planning permission to construct several more homes immediately adjacent to the inherited flat and there were many flats for sale at the same time. In consequence when the property was eventually sold in March 2024. the price realised was £50,000 less than at time of inheritance/probate. Does this count as a loss for CGT purposes.