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Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5112
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I inherited a property from my grandfather about 9 years ago.

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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?
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.

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