• Why Did We Complete A 'deed Of Gift'.

    By Guest on 07th Jul 2016

    When my father died in 1997 my mother executed a 'deed of gift' of her house to me and my brother.Mother died in 2016.When the house is sold I assume that CGT has to be paid on the difference between the value of the house in 1997 and the value at the time of sale. If mother hadn't executed the 'deed of gift' then CGT would only have to be paid on the difference between the value of the house at the date of death and the date of sale. If this is the case why did we execute the 'deed of gift'?

  • 1 Answers

    By Guest on 08/07/2016

    Possibly to avoid inheritance tax? I'm not an expert on CGT by the way so unless you are sure of your position you should get advice on your liabilities.

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