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I currently jointly own a bungalow with my wife. This is an
I currently jointly own a bungalow with my wife. This is an inheritance property which we have recently gain planning permission to build another property on land to the side of the existing one. The … read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,267 satisfied customers
Could you tell me how much cgt I will have to pay? I am a pensioner
Could you tell me how much cgt I will have to pay? I am a pensioner and pay basic rate tax. Can't I use the tax exempt amount for each of the 12 years since my mother's death? Thank you.… read more
Joshua
Joshua
Lawyer
LL.B (Hons), Prof. Dip. Law & Pract
14,255 satisfied customers
My wife and I own a house since 2001 we have just sold for
My wife and I own a house since 2001 we have just sold for £415k. We lived in the house for 2 years as our sole residence until 2003. Then we HAD to move to bungalow (my wife has MS). We Tried to sell… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,267 satisfied customers
my brother and I inherited my fathers house when he died, the
my brother and I inherited my fathers house when he died, the probate value was 60000, we sold it last year for 60000 do we have to pay capital gains tax. In his will he stated that his partner could … read more
TonyTax
TonyTax
Tax Consultant
High School or GED
8,953 satisfied customers
I am due to receive a sum of money from a descretianary will
I am due to receive a sum of money from a descretianary will trust set up by my late mother, the amount will be from proceeds of main residence and represent 50% of the house , when the funds are liqu… read more
Joshua
Joshua
Lawyer
LL.B (Hons), Prof. Dip. Law & Pract
14,255 satisfied customers
Hello wondering if you could help My parents inherited a
Hello wondering if you could help My parents inherited a property (a second home) in 1994 for £80k. In July 2010 my father died passing all his assets over to my mother. Then in February 2011 my mothe… read more
TonyTax
TonyTax
Tax Consultant
High School or GED
8,953 satisfied customers
Dear Tax Advisors, My question relates to "Capital Gains Tax".
Dear Tax Advisors, My question relates to "Capital Gains Tax". My brother and I inherited my Mothers bungalow when she died. It was left to us in her will and we each have a 50% share in the property.… read more
taxadvisor.uk
taxadvisor.uk
Accountant and Tax Practitioner
Chartered Certified Accountant - FCCA
3,267 satisfied customers
My sister and I was given a plot of land adjoining my grandfathers
My sister and I was given a plot of land adjoining my grandfathers bungalow in 2007, he then died in 2009 and left us his bungalow. We built another bungalow on the land and have now divided these ass… read more
TEAP007
TEAP007
Tax Preparer
Fully Trained Inspector of Taxes B1
759 satisfied customers
Hi, My father has just passed away and the house is now transferred
Hi, My father has just passed away and the house is now transferred to my (his daughter). He mentioned something of paying this capital gains tax alreadly. Is that possible? How can i find out if he d… read more
TonyTax
TonyTax
Tax Consultant
High School or GED
8,953 satisfied customers
My parners Father passed away leaving shares to the value of
My parners Father passed away leaving shares to the value of £40000 that were in his name only to His wife and property and savings to value of £560000 that is in both of their names. what type of tax… read more
TonyTax
TonyTax
Tax Consultant
High School or GED
8,953 satisfied customers
I bought a bungalow for my elderly father to live in 8 yrs
I bought a bungalow for my elderly father to live in 8 yrs ago. He has lived there throughout and has never been charged any rent. On sale now, am I liable to pay Capital Gains Tax? If so, is an optio… read more
TonyTax
TonyTax
Tax Consultant
High School or GED
8,953 satisfied customers
Jointly with wife purchased holiday home in 1994 at cost of
Jointly with wife purchased holiday home in 1994 at cost of £130000. The current estimated value of property is approximately £490000. There are probably £20000 of possible set offs, ie creation of ad… read more
CCTax
CCTax
Bachelor's Degree
324 satisfied customers
my father lives we me and my husband and he rents his bungalow
my father lives we me and my husband and he rents his bungalow out he has asked if i would like to buy the bungalow from him the value is £135000 he is gifting 50% £67500 and iam looking to fund the r… read more
TonyTax
TonyTax
Tax Consultant
High School or GED
8,953 satisfied customers
My wife inherited her mothers bungalow in 2000 - it had already
My wife inherited her mother's bungalow in 2000 - it had already been let for a few months to pay for mothers care in a home and has been let ever since. It was valued for probate in March 2000 at £80… read more
Sam
Sam
Accountant
Higher Officer HMRC
6,564 satisfied customers
Is Capital Gains Tax payable in addition to Inheritance where
Is Capital Gains Tax payable in addition to Inheritance where a deceased's estate consists of equities and properties?… read more
Julie Kingham
Julie Kingham
Director
Chartered Tax Adviser
733 satisfied customers
- My mother died 6 months ago and probate has been granted.
- My mother died 6 months ago and probate has been granted. My sister and I want to transfer the property title into both our names. If we did this, when the property is sold would the nil rate band f… read more
TonyTax
TonyTax
Tax Consultant
High School or GED
8,953 satisfied customers
My father has recently died, leaving his property to myself
My father has recently died, leaving his property to myself and sister jointly. If we put an amount of £230,000.00 down for valuation for probate and then sell the property for more money - would the … read more
Sam
Sam
Accountant
Higher Officer HMRC
6,564 satisfied customers
I purchased a leasehold property jointly with my parents some
I purchased a leasehold property jointly with my parents some twenty years ago, my mother died about 4 years ago and my father about six months ago. I have not lived in it, but have now decorated it r… read more
TonyTax
TonyTax
Tax Consultant
High School or GED
8,953 satisfied customers
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