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Sam, Accountant
Category: Tax
Satisfied Customers: 14200
Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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My wife died last year and under the terms of her will I was

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My wife died last year and under the terms of her will I was the executor and sole beneficiary.
I received Prudential shares previously owned by my wife. When I sell those shares will CGT be calculated on the gain from the transfer date to me or when she first purchased them?
Thanks for your question, I am Sam and I am one of the UK tax experts.
I am sorry to hear of your loss.
The gain will be calculated form the date they were transferred to you, as you took ownership of them due your wife passing away, rather than a transfer whilst she was alive. (Had it been a transfer whilst she was still alive, you would have ben treated as having owned the shares form the date your wife acquired them)
And form the gain - the first £11,000 is capital gain free (this years annual exemption allowance) with any remaining gain liable to capital gains tax.
Let me know if you have any follow up questions on my response.
Customer: replied 3 years ago.

Hi Sam,

That is a relief and what I hoped when I calculated the sale.

Very many thanks.


Hi Karel
You are very welcome
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