A friend's mum died last year. The Friend is a New Zealand resident.
When her dad died in 2010 he had a Discretionary Will Trust that left his half of the house to my friend and her Brother in equal shares (presumably to avoid it all disappearing in care fees). Her mother stayed in the house until death. I presume the house was held as tenants in common. The Trustees were her mother and her Uncle (who fortunately is still alive).
Our friend is somewhat stessed about any tax liablity and has confused information from her NZ accountant, a UK accountant, and the Probate Solicitor.
The issue is the house value, which has risen by circa £300k between the deaths of her parents.
Can someone say what (if any) CGT is due from the Trust?
thanks
Paul
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Discretionary Will Trust and CGT
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