If there is no mention in the will of inheritance tax, then each asset bears its own tax in proportion.
If you are not to be liable for inheritance tax you may not be able to raise if you don’t have that liquid cash, he can specify that you get the house free of inheritance tax and hence, the other £300,000 would bear all the tax including the tax on the house.
Can I clarify anything for you?
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My name is Clare
For clarity you would NOT have to pay any CGT - at least not until you eventually sell the house.
If you do have to pay Inheritance tax you are able to do it by instalments on a property