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
- client threatening legal action 1,787 27
- Twenty signs your practice is bad at tax 665 8
- Partially exempt? 234 9
- Reclaiming EU VAT on fuel and expenses 82 1
- First VAT Visit for client 212 4
- Dividend in specie 222 7
- VAT on imports and the Flat Rate Scheme for VAT 156 8
- Lorry Drivers 131 2
- Redundancy payment added to p45 74 1
- Partnership registered in error. No activities with view to profit. 83 1
- Mexican student in UK 113 2
- PI insurance for Auto Enrolment 193 3
- Accounting Practice acting as an employment agency 291 12
- payroll software 110 1
- No Tax Returns submitted for last 16 years 1,047 25
- Complicated Company car purchase 96 1
- Pricing 329 10
- Late VAT registration penalty 245 5
- VAT 115 2
- QuickBooks, Xero, FreeAgent and ClearBooks 849 18
- Skandia using wrong address 483
- Does anyone use PS Financials accounting software out there? 278
- FHL, period of grace and Entrepreneur's relief 272
- Employee rewards 257
- Legislation access for part-time sole practitioner? 222
- Rental Property W&T And Equipment 215
- EPS Analysis - Change to EURO 213
- Gift of reversion and lease into trust by two different people - later PPR 208
- Etax Australian 169
- Annual Management Charge Rebates and Self Assessment Tax Return 158