Capital gains on resale of inherited house

"sister has moved out and the interest is still deductable (and other costs)as she is in between tenants at this time. "

re the above comment just to warn that interest is deductible if incurred in-between lettings, but its not deductible if its "post-letting" - ie, after the last letting. so if its sold without being re-let the interest incurred after his sister left is not tax deductible.
 
Just to reiterate - my calculations may well be all over the place but the bottom line (as others have mentioned) is that even after inheritance tax, CGT, rental income tax and expenditure on renovating the property you should still be looking at a pretty healthy profit.
 
Thanks a lots guys for all your help,

I know it is a valuable property and it is a great profit, should'nt moan!! Anyhow have made an appointment to see a tax adviser so should get this sorted out. Thanks again for all the helpful advice.
 
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