capital gain on death

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    capital gain on death

    first of all i like to thank evryone who takes time to reply to any questions , i find the forurm gives me loads of help
    i have property i have 90% in my name and 10% in my wifes.
    if i die , and she sells the property what will the capital gain be based on the price i paid for my 90% or the value when i die?

    #2
    If you sell , you will be charged tax at 18% or 28% on the "capital gains less the capital gains allowance( £12,300 )"

    If you die , the "assets under your name" will become part of your "estate" and the executor will be required to pay tax at 40% on the estate value after deducting the first £325K or first £500K if the "family home" is left to the children before distribution of assets.

    If your wife disposes of the property, her capital gain will be calculated from sale proceeds less acquisition cost ( 10% interest at original cost + 90% interest at probate valuation ) .

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      #3
      thanks for your help

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