How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask bigduckontax Your Own Question
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 4763
Type Your Tax Question Here...
bigduckontax is online now

Thank you for the answer on IHT and the the CGT allowance

This answer was rated:

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?
Customer: replied 5 months ago.
I could not get to follow up on my question?

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

bigduckontax and other Tax Specialists are ready to help you
Customer: replied 5 months ago.
If there are two beneficiaries then would not their two CGT allowances trump the sole allowance of the Executor?

Thank you for your support.

No, the executors only have one tranche of AEA.

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

Thank you for your support.