I engaged a solicitor to extract a Grant of Probate and to deal with the legal aspects of selling a house as part of a deceased estate.
The house sold for slightly more than its valuation at the Date of Death and thus a potential CGT liability arises.
The solicitor will register the Estate for CGT and pay any CGT due from the proceeds of the Estate before distributing the net proceeds to the beneficiaries.
I paid two sets of legal fees - one to extract the Grant of Probate and the other to deal with the legal aspects of the house sale.
I understand the legal fee associated with the house sale is a deductible expense for CGT purposes.
Is the legal fee associated with extracting the Grant of probate also a deductible expense for CGT purposes?
The house sold for slightly more than its valuation at the Date of Death and thus a potential CGT liability arises.
The solicitor will register the Estate for CGT and pay any CGT due from the proceeds of the Estate before distributing the net proceeds to the beneficiaries.
I paid two sets of legal fees - one to extract the Grant of Probate and the other to deal with the legal aspects of the house sale.
I understand the legal fee associated with the house sale is a deductible expense for CGT purposes.
Is the legal fee associated with extracting the Grant of probate also a deductible expense for CGT purposes?