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bigduckontax
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4430
Experience:  FCCA FCMA CGMA ACIS
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Thank you for the answer on IHT and the the CGT allowance

Resolved Question:

Thank you for the answer on IHT and the the CGT allowance but then why is our solicitor being advised to pay CGT before distributing the estate to us the beneficiaries?
Submitted: 3 months ago.
Category: Tax
Customer: replied 3 months ago.
I could not get to follow up on my question?
Expert:  bigduckontax replied 3 months ago.

If the estate is due to pay CGT then naturally the executors must settle this and IHT before distribution.

bigduckontax and 2 other Tax Specialists are ready to help you
Customer: replied 3 months ago.
If there are two beneficiaries then would not their two CGT allowances trump the sole allowance of the Executor?
Expert:  bigduckontax replied 3 months ago.

Thank you for your support.

No, the executors only have one tranche of AEA.

Expert:  bigduckontax replied 3 months ago.

You may find it easier to ring me, I am on 01750 725420.

Expert:  bigduckontax replied 3 months ago.

Thank you for your support.