Capital Gains Tax on property
My uncle has recently passed away. He didn't make an official will, but does have a 'wish list'.
All of his assets automatically get past to my Nan, who is currently claiming benefits.
His wish list has requested that his house is sold and the proceed split between his 4 brothers and 1 sister.
My question is - would any capital gains tax be payable by my Nan on the sale of my Uncles house? Assuming that the sale is at market value?
Also, does anyone know if my Nan would loose her benefits by selling the house and gifting the proceeds to her grown up children?
It is my Uncles wish that the house is sold, but we don't want my Nan to loose out by selling the property and giving away the proceeds.
Any help would be very much appreciated
- Limited company buying a car 141 4
- Goodwill omitted from first years accounts 259 15
- Buying Microsoft's Surface Pro 3 458 10
- Straightforward email correspondence or PDF letter attached to blank email? 547 6
- Course costs for retraining as a barrister 169 7
- Travel and Subsistence expenses while abroad 286 4
- How to post Sales figures in Sage50 Accounts (we use separate Sales ledger) 107 2
- ACCA practice certificates 493 5
- Limited company buying director's car 286 10
- Question on HMRC past taxes (+penalties) on non-resident 75 1
- Is it possible to change a client's trading address for Vat purposes online 93 1
- WC's and capital allowances 172 3
- Entrepeneurs relief 302 13
- Dress code 1,545 36
- Which company is best for online new company formation? 479 13
- CTA and Tolley's tax handbooks 256 6
- HMRC Seminar on Penalties - Did you last the course? 377 4
- CIC Tax - what is trading? 472 23
- What is the status of "Whistleblowing" these days - do you get rewarded? 186 4
- Loan Repayment on Invoice 105 3
- CTA study material 769
- Anyone have clients that use Pay4Later to offer customers credit? 480
- Raiders of the Lost Tax File 396
- Employment related securities question 308
- AIM Stocks and IHT 279
- Tax Relief for overseas employees 257
- Expat pension contributions? 255
- Trust for Employee 236
- Service Charge Accountant Career Options 175
- IPP (International Pension Plan) income 147