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UKSolicitorJA
UKSolicitorJA, Solicitor
Category: Law
Satisfied Customers: 7362
Experience:  English solicitor with over 12 years experience
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We have a property in London with myself, my wife, our

Customer Question

We have a property in London with myself, my wife, our daughter and our son-in-law as joint owners. My wife and I are over 70 years old. We have left the UK to be permanently based in Hong Kong since 2010. The property has since been occupied by my daughter and her husband as their only residence. Will any Capital Gains Tax my wife and I have since attracted cease to be payable on our death? Best personal regards, ***** ***** Peggy
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: No. Just a preliminary enquiry. By the way, based on your answer, what paperwork is needed in advance?
JA: Where is the residence located?
Customer: London SW1
JA: Anything else you want the Lawyer to know before I connect you?
Customer: Nothing else. Many thanks.
Submitted: 7 months ago.
Category: Law
Expert:  UKSolicitorJA replied 7 months ago.

Hello,

Capital gains tax is not applicable when property passes on the death of the owners, see here: https://www.gov.uk/government/publications/death-personal-representatives-and-legatees-hs282-self-assessment-helpsheet/hs282-death-personal-representatives-and-legatees-2018#cgt-liability-for-the-period-of-administration

I hope this helps. Please click on 5 stars if this is helpful.