Hi,
I'm just wondering whether a bequest of a house in the will of a mother to her daughter will be a chargeable dispoal for capital gains tax purposes?
I would really appreciate with a short description to why this is or is not the case.
Ask the Tutor ACCA TX-UK
Chargeable disposal
There is NO CGT on death and assets pass to the beneficiaries at their probate value (OMV).
The chargeable estate of the deceased will however be subject to IHT!
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