Hello, I'm Keith and happy to help you with your question.
There is no CGT on death, all assets being aggregated for Inheritance Tax (IT) purposes. Any intermediate costs would go through the executor's or administrator's accounts. IT kicks in at 325K and is at 40% flat rate on any surplus over that. If the deceased estate is below that then there is no IT to pay. The 325K is also inflated by any inter spousal, charitable or certain other bequests and also be inflated by any unused allowance from her late husband's estate, if any..
It is most unlikely that there will be any gain from sale against the probate value and as you suggest selling costs would top slice any gain anyway. If there is a gain it falls to the beneficiaries of your late Mother's estate subject to all the usual rules eg Annual Exempt Amount of 11K.
I do hope I have thrown some light on your position.
Thank you for that information. I think my question was too generalised. Our situation is that a value of £300,000 was declared for the house and passed through probate with all other allowances taken into account at that time. Subsequently it has been sold for £337,500 with a 50:50 split between myself and my sister. This means there is a perceived gain of £37,500 which is taxable. Am I right in thinking that we each get the CG allowance of £10,900 and that costs incurred during the past year, (i.e. insurance, council tax, utilities, agents and solicitors) can also be offset?