Probate and CGT

F

Friday

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My solicitor has just completed probate on my deceased fathers estate. My sisters are now looking to sell the house. Will CGT be calculated on the difference between the probate valuation and the selling price? If, as I suspect, this is the case, can an appeal be made as our solicitor had the house valued at the value on the date of my fathers death rather than the date when when probate was completed - this is significant as there was a 12 month time difference and the value of the house increased substantiallly during that time.

Was the solicitor correct to have the house valued at the date of death?

Thanks
 
".........there was a 12 month time difference and the value of the house increased substantiallly during that time. "

But is that not just the whole point?

Two issues: either the date of death valuation was too low because there is no way that that rate of gain could apply from date of death to date of sale and it is possible to apply to Revenue to file a Corrective Affidavit showing a higher date of death value or date of death value was correct and CGT is payable.

mf
 
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