Zoe Pearse TEP, Senior Associate in the Private Client team, has been featured in the latest reader’s question segment from The Sunday Times.
Zoe provides some valuable insight when answering the question “Who pays capital gains tax when inheriting a home?”
Zoe explains “All in all, to overcome the issue of CGT it may be simpler for the house to be sold as soon as possible after your death. The son can then receive the net proceeds of sale instead. Alternatively, it is possible to leave him a percentage of your estate, although careful consideration should be given to the percentage amount in conjunction with the value of your house. You should also bear in mind that this may increase (or decrease) between the time you made your will and your eventual death.”
To read Zoe’s full response, visit: https://www.thetimes.com/article/6644bd1a-d20c-4d2c-b5b0-e67f1f7a38e2