Share this content

Cgt - online reporting

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

Didn't find your answer?

  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 - ? 

Replies (3)

Please login or register to join the discussion.

avatar
By David Ex
11th Sep 2021 00:13

I did a Google search and found this:

https://www.att.org.uk/uk-property-reporting-service-users-guide

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

Thanks (1)
avatar
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.

Thanks (2)
avatar
By Calculatorboy
11th Sep 2021 14:24

I think they can afford some advice

Thanks (1)
Share this content