Crosswords0 min ago
capital gains tax
1 Answers
We are about to sell a second property where my now deceased mother in law used to live which we bought some 20yrs ago. I have been told we may be exempt from cgt. if not how do we work out what we pay. Thanks.
Answers
Only 1 answer
Best Answer
No best answer has yet been selected by mcdonaldclan. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.
Because I don't know enough detail about your circumstances, I can't say for sure, but on what you have said so far, I think you will be CGT exempt. Contact the tax office and talk to them - or look at their website at www.hmrc.gov.uk and look at the capital gains manual. If that fails, I would get some quick advice from a solicitor. Don't worry about doing the calculations - yet!!!
Only 1 answer
