Soldato
My dad passed away just before the pandemic, in his will he left me 25% of his house.
My mum is now selling up and down sizing so I would imagine I'll be receiving something in the region of 90K from the sale.
Looking at the guidance on Gov.uk hasn't helped me understand if I'm liable for CGT (sale of a property that's not my primary dwelling) - or if CGT doesn't count as its inheritance and under the inheritance tax threshold. I don't think CGT applies here but if anyone knows better that would be super useful.
I'm assuming this situation isn't unusual so I'm hoping someone here can shed some light on it before I go and speak to an accountant.
Ta
My mum is now selling up and down sizing so I would imagine I'll be receiving something in the region of 90K from the sale.
Looking at the guidance on Gov.uk hasn't helped me understand if I'm liable for CGT (sale of a property that's not my primary dwelling) - or if CGT doesn't count as its inheritance and under the inheritance tax threshold. I don't think CGT applies here but if anyone knows better that would be super useful.
I'm assuming this situation isn't unusual so I'm hoping someone here can shed some light on it before I go and speak to an accountant.
Ta