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CAN THE EXECUTOR CLAIM PPR ON THE SALE ?

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There is a Capital Gains situation 18 months after death and Estate has been distributed . This was the only property of the deceased person . Can the Executor claim Private Residence Relief  ? The Executor has their own separate private property .The Executor who is also the Beneficiary will inherit the full proceeds . If PPR is available , what are the conditions please ? Thank you .

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By David Ex
11th Nov 2021 12:00

parvez wrote:

If PPR is available , what are the conditions please ?

Not sure but I think not being dead and actually living in the property, perhaps?

https://www.pem.co.uk/article/capital-gains-tax-selling-a-property-after...

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Replying to David Ex:
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By Paul Crowley
11th Nov 2021 12:21

Good link

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Replying to Paul Crowley:
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By David Ex
11th Nov 2021 12:30

Paul Crowley wrote:

Good link

Amazing what a 5 second Google search turns up!!

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By TessaW
11th Nov 2021 12:06

Your question is not that clear. You say that the estate has been distributed and there is now a capital gains situation so I infer that the property was transferred to the beneficiary and the beneficiary has now sold the property. In that situation the executor is no longer involved.
It would be wise for the beneficiary to discuss the situation and provide all the necessary facts to an accountant

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By parvez
11th Nov 2021 12:15

Sorry TessaW . The property has been sold , but Estate has NOT been wrapped up yet . The Gains arises within the Estate and before finalisation / distribution .

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By parvez
11th Nov 2021 12:17

Thank you for the pem.co.uk link DavidX

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paddle steamer
By DJKL
11th Nov 2021 12:42

Can the valuation at date of death be varied to eliminate the CGT during the period from death to the sale of the property?
Can there be that much gain?
Why the delay that must have occurred to give rise to a gain?

Up here I think we can do an Eik to change value within original Confirmation.

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By parvez
11th Nov 2021 12:57

Thank you DJKL . Indeed , I have asked solicitors exactly the same questions . They have explained , but , do not want to change IHT . Thank you for your comments .

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Replying to parvez:
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By Paul Crowley
11th Nov 2021 13:44

Solicitors always value low deliberately

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By parvez
11th Nov 2021 15:57

Thank you Nick Farrow for this link . Very kind.

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Replying to parvez:
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By nick farrow
11th Nov 2021 16:02

my pleasure (thanks to our tax associate)

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