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
- Contingent Asset Disclosure 48 2
- Missed Student Loan Contributions 167 4
- Distance between Postcodes in Excel 442 5
- Write off of former director's loan 718 11
- What is wrong with HMRC? 90 1
- Incorrect Generic non-filing notice 197 7
- Am i Liable? 612 16
- Employer pension contribution as part of redundancy package 35 2
- Compensation payment and child benefit 49 2
- What leverage do I have with accountants if any? 196 2
- Accommodation allowance - emergency workers 81 1
- RTI 269 7
- HMRC - Generic Notification Notice 47 1
- RTI Easement Until 2016 100 2
- Altered PAYE cheque 383 8
- Does buying a block of fees qualify as goodwill 366 9
- Added years superannuation 103 3
- Client using boyfriend's personal account 800 19
- RTI Student Loan Reconciliation 338 6
- Playstation 4 - Allowable expense or not? 3,079 64
- Desperately seeking Susan, Sam or anyone with any other name 1,257
- Experience with Islamic investor following Sharia-compliant rules? 619
- Darwinpay Partnership Assessment 413
- S464A Charge to tax: conferring benefit & BIK 322
- Quirky thread of the year: Community Awards 232
- Alphabet shares 206
- Agent fees to sell business 197
- ACCA continuity of practice arrangement needed 196
- Office recharges 157
- Tax position on lease extension 146