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taxadvisor.uk, Chartered Certified Accountant
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I inherited a property from my grandfather about 9 years ago.

Resolved Question:

I inherited a property from my grandfather about 9 years ago. If I now sell the property, am I liable to pay CGT on the difference between my purchase price (i.e. Nil) and the selling price?
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

I presume this is a second home for you (i.e. you do not live in this property as your main residence). You will be liable to capital gains tax on the gain made since you inherited the property. The gain will be the difference between the value at the time of death (inheritance) and now.

I hope this is helpful and answers your question.


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Expert:  taxadvisor.uk replied 2 years ago.

I thank you for accepting my answer.

Best wishes and Season's greetings.

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