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It depends on whether they own houses elsewhere, please advise.
Then they will be liable to UK Capital Gains Tax (CGT). The 29K gain is reduced by the non cumulative Annual Exempt Amount (AEA) of 11.3K to 17.7K. This is taxed at 18% or 28% or a combination of the two rates depending on the individual's income including the gain in the tax year of disposal. A worst case scenario is a tax bill of a tad under 5K.
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Doesn't make the slightest difference. They owned a second home and are thus liable. Of course if the deceased's estate is still in executors or administrators' hands then they pay the CGT before distribution.
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