Affiliations

Capital Gains Tax

You might have to pay Capital Gains Tax if you sell, give away or exchange an asset you've inherited and it's gone up in value since the date of death. The legal term for the many ways you can cease to own an asset is 'dispose of' assets. (In some cases you may be treated as if you've disposed of an asset that you still own - for example, if you receive compensation for a damaged antique.)

If the asset you inherited increases in value between the date of the deceased's death and the date you dispose of it, the increase is a 'capital gain'. See more on this in the section below, and in the guides on Capital Gains Tax.

Inheritance Tax

You usually won't have to pay Inheritance Tax on money, assets or property you inherit. Inheritance Tax generally comes out of the deceased's estate before the inheritance is passed on. You will usually only owe Inheritance Tax on a legacy if either of the following applies:
• it says in the will that you should pay Inheritance Tax
• the deceased's estate can't pay it

Further advice is available from HM Revenue and Customs here.

Move with Confidence
- in the knowledge that you are protected as a seller, buyer, Landlord or Tenant.   
We are qualified members of respected property professional bodies:

Affiliations

MovingBoxesWide

Tudor - Chartered Surveyors: 
Professionally qualified agents and property consultants based in Pwllheli, Gwynedd, North Wales.
Specialising in the sale letting and management of all classes of property including; Water front properties, Rural Properties, Farms, Cottages and Prestigious County Homes.

ReceivingKeys


Contact us for all Property Matters

Thinking of Selling? 
We can Help