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Cgt - online reporting

House sold for £320k -, was inherited by 5 brothers - probate value £285k so do we need to report

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  House was sold for £320k -,which  was inherited by 5 brothers - ( due to passing of brother 6 - the probate value was £285k - so do we need to report to Hmrc - as the gain of £35k  and it's split between 5 - so just £7k each - way below the annual exemption - ? 

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By David Ex
11th Sep 2021 00:13

I did a Google search and found this:

It’s also a question that is asked a couple of times a month here if you search the site.

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By Tax Dragon
11th Sep 2021 10:47

The question is: who sold the property hence made the gain, deceased brother's estate or surviving brothers.

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By Calculatorboy
11th Sep 2021 14:24

I think they can afford some advice

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