willman 10 #49 Posted February 17, 2007 capital gains is 16k i think. so "technically" inheritance and sale will result in a profit. (it's not your place of primary residence) it could also be construed that the sale calls in to play normal taxation as gained income, so this will likely take someone above 40% tax bracket. the detriment is irrelevant it shouldn't apply.imho. but for 500 quid i can save someone 45k in tax, does sound like a bargain? Share this post Link to post Share on other sites Share this content via...
Cyclone 10 #50 Posted February 18, 2007 Capital gains quite clearly states that it only applies to an inheritance if it appreciates in value from the time it's inheritted. If you sell immediately it is neither counted as income nor as capital increase. It does sound like a bargain, unless someone else is doing it cheaper. Share this post Link to post Share on other sites Share this content via...
