inheritance tax

R

redsquirell

Guest
My brother left my nephew his house & money, but he also left my sister lifetime use of the house,she is over60,has lived abroad most of her life,but comes back every year.My question is :-Does my sister or nephew have to pay cgt on the value of the house?
 
CGT (Capital Gains Tax) is payable on disposal or sale of an asset.

If you mean CAT (Capital Acquisitions Tax aka Inheritence Tax) then they may have a liability. The value of the property will have to be split between the two donees and their respective tax liability worked out
 
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