CGT tracing on shared property
Posted: July 5th, 2023, 7:50 am
Hi Folks,
Inherited house sold. House was a three way split on the death of our father (2008). Elder brother died later (2014) and his share passed to his daughter, our niece. So far so good.
I did my CGT submission on line and paid it, quite straightforward. My brother is in the process of doing his.
My brother and my CGT submission details (sale price, 'purchase' price, expenses) will be the same.
I know nothing about our Niece's finances but her CGT details will be different as her start date for third ownership was when her dad, our elder brother, died (2014).
As the CGT submission contains the address of the property and the fact that it's noted as a three way split on the CGT submission, do the HMRC follow up and make sure they get three submissions for that address and 'spot the difference' in the details or is each CGT submission treated separately?
Or am I reading too much into this? Stress I can do without.
Ray.
Inherited house sold. House was a three way split on the death of our father (2008). Elder brother died later (2014) and his share passed to his daughter, our niece. So far so good.
I did my CGT submission on line and paid it, quite straightforward. My brother is in the process of doing his.
My brother and my CGT submission details (sale price, 'purchase' price, expenses) will be the same.
I know nothing about our Niece's finances but her CGT details will be different as her start date for third ownership was when her dad, our elder brother, died (2014).
As the CGT submission contains the address of the property and the fact that it's noted as a three way split on the CGT submission, do the HMRC follow up and make sure they get three submissions for that address and 'spot the difference' in the details or is each CGT submission treated separately?
Or am I reading too much into this? Stress I can do without.
Ray.