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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3096
Experience:  FCCA FCMA CGMA ACIS
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Looking ? my brother passed away in 2010 left

Customer Question

hi looking for advice ?
my brother passed away in 2010 left everything to my sister,as they lived together with my mother our family home so to speak.
she also had a best friend that passed away jan 2011,who left her home and other stuff to my sister,then in december 2011 my sister passed away , including in her will was a clause tht the house couldnt be sold while my mother was of sound mind and live there rent free,anyway to complete the inheritance tax the house was valued at £230,000 with that and other inheritance we paid £43,000 inheritance tax which was paid right away. House sold last year at £250,000 fter 2 years on market in glasgow btw .
At the time i asked my then solicitor in a practice what if the house goes on the market will we have to pay more inheritance tax if it sells for more,he at the time said no but since he retired ,a new solicitor came in and to cut a long story short after dividing the monies between 3 brothers and myself he held back £8,000 on may last year,saying that there may be further tax,after numerous phone calls to him and a lady we delt with in another office ,all i get is excuses ooh we nee to contact tax etc etc
Can you advise me my best way yo sort this out ,i told him to give us the £2,000 each and if in future there is tax to be paid we will pay it .
He has held our £8,000 now for nearly 15 months ?
Regards
George
Submitted: 1 year ago.
Category: Tax
Expert:  bigduckontax replied 1 year ago.

Hello George, I am Keith, one of the experts on Just Answer, and happy to help you with your question. I live in Scotland and as you will see this is a tricky one.

You should be aware that there has recently been an expose in the media regarding extensive misuse of clients' moneys by individual Scottish solicitors with a marked lack of action by The Law Society of Scotland.

From the tenor of your question it would appear that two properties are involved. The one occupied as your sole or main domestic residence will escape Capital Gains Tax (CGT) through Private Residence Relief. Any gain made on the other from a probate value will, however, expose the owners not to more Inheritance Tax, but CGT on the gain. As the individuals, not the solicitor, will be personally liable for the CGT the retention of the moneys appears inappropriate.

You may have to insrtuct another solicitor, in itself not popular move within the profession, with a view to the moneys being released.

I do hope that my reply has been of assistance.

Customer: replied 1 year ago.

Hi keith

little more info my brother left house and all his stuff to my sister,my sisters friend lived on her own died a spinster her will inc house was around £230,000 her house was sold before my sister passed away, my brothers approx £240,000,so my sister left all in her will to 4 brothers i am the executor we paid inheritance tax at beginning of her will withing months of her death in 2011, i already says to the solicitor surely as clients my brother sister and her friend and me and brothers he should be working on our behalf ,and sort out inherithance tax and cgt tax of which we know nothing about ,as was hust unfortuneate they passed away within 2 years.I still dont know what do to as i am fed up phoning n contacting the 2 i know in the firm ?

regards

george

what do you advise ?

Expert:  bigduckontax replied 1 year ago.

I have already made the suggestion that ypu may have to approach another solicitor for assistance.

However, you could first try writing to the firm involved and ask for an explanation in writing as to why moneys are being with held.

This case is exceptionally complicated and I am having difficulty in grasping what exactly has happened. If you could set this out in strict chronological order it would be of great assistance.

Customer: replied 1 year ago.

Thanks keith

Can i get back to you as i need to get all paperwork for all 3 wills sorted withe dates etc.

Would it be worthwhile contacting law society ?

regards

George

Expert:  bigduckontax replied 1 year ago.
For the moment George, just confine yourself to writing to the firm involved asking for an explanation.
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 3096
Experience: FCCA FCMA CGMA ACIS
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Expert:  bigduckontax replied 1 year ago.

Thank you for your support.

I will happily go on considering your position if you can give me the events in strict chronoligical order.

Customer: replied 1 year ago.

I was told the cost was £36 i see from my bank statement £46 was taken.

I have cancelled my subscription

Expert:  bigduckontax replied 1 year ago.
I am sorry, I cannot assist there; you must approach Just Answer administration on this matter.

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