Do You Have To Pay Capital Gains Tax On Inherited Property

[postman44]

Do you have to pay capital gains tax on inherited property from parents well you sell the property.

[JimF]

https://www.gov.uk/capital-gains-tax

https://www.which.co.uk/money/tax/capital-gains-tax/capital-gains-tax-on-property-avuq96u1500f

[Ryzen]

No CGT ..however inheritance tax may be payable if the property is worth more than £1M...seek advise.

[Toorak]

It seems as though you do need to if inheriting the property means you own 2 homes.

https://www.gov.uk/tax-property-money-shares-you-inherit/property

[ubasses]

If you inherit a property, you will only pay CGT on any gain you make between inheriting and selling, and over your £12,000 annual allowance.
If there was IHT to pay on the Estate and not enough liquid assets to cover it, then you would have to pay it from the sale of the house.