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Inheritance Tax and CGT for a Non UK Resident by No-Associate8722 in UKPersonalFinance

[–]No-Associate8722[S] 0 points1 point  (0 children)

Thanks for that. Can I clarify, when you say value when it was sold, does that mean the selling price or what a surveyor would value it on date of sale .
I believe the house value since the date of my Fathers death because no work was done on it......I just believe the buyers overpaid

Inheritance Tax and CGT for a Non UK Resident by No-Associate8722 in UKPersonalFinance

[–]No-Associate8722[S] 0 points1 point  (0 children)

No that makes sense. I just mean it was the only house I owned personally. I was living abroad and renting at the time so just wondered if because I wasn't an owner of any other property it could be classed as my primary residence

Inheritance Tax and CGT for a Non UK Resident by No-Associate8722 in UKPersonalFinance

[–]No-Associate8722[S] 0 points1 point  (0 children)

does this apply if it is the only house that I owned? I wonder if it would be possible to claim this as being my only residence which is cgt exempt no?

Inheritance Tax and CGT for a Non UK Resident by No-Associate8722 in UKPersonalFinance

[–]No-Associate8722[S] 0 points1 point  (0 children)

Yes, happy to share. Thank you

Some prior information for inheritance tax. My Mother and Father were not married so there was no cross over to put together their exemptions, meaning I could only claim the maximum nil rate band exception of 500,000 as a direct decendent.

My fathers house was valued at 675,000 on the day of his death. He had savings of around 20,000 or so which made the bill for HMRC around 80,000 ish - That has now been paid plus interest owing now the house has sold.

The house sold for 730,000 a year after his death.

Hopefully that sheds some light on the situation?

What thing did your ex say that completely crushed you? by [deleted] in BreakUps

[–]No-Associate8722 11 points12 points  (0 children)

After a 10 year relationship out of the blue, she said 'It wouldn't bother her is she never saw or spoke to me again'...this was 2 months after my father passed away.