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When Emma inherited her late aunt’s house, she found herself navigating not only the emotional process of dealing with a family estate, but also the unfamiliar tax implications that came with selling the property.
Emma had never had to deal with Capital Gains Tax before and was unsure how to calculate gains, what could be deducted, or how to report everything correctly. After hearing about us through a colleague, she reached out to the Tax Faculty for guidance and peace of mind.
Emma, Bristol: Selling an Inherited Property
1. What made you decide to contact the Tax Faculty?
Emma: “I didn’t want to make a mistake. I’d read a lot online, but everything seemed to contradict itself. I was already overwhelmed with the emotional side of clearing and selling the house, and the tax element felt like another huge responsibility I wasn’t equipped for. The Tax Faculty was recommended to me by someone at work who had used their services. From the first conversation I felt listened to and supported.”
2. How did the Tax Faculty help you understand your Capital Gains Tax position?
Emma: “They explained things in a really personal way and made sure I understood each step. They walked me through how the gain was calculated, what reliefs were available, and the dates and values we needed to consider. I didn't feel rushed or pressured to sign up for anything which mattered to me."
3. What part of the process did you find most reassuring?
Emma: “The clarity. I'd really started to see my inheritance of the house as a burden that I just didn't want to deal with. Having some professional support helped me remember that it was actually a gift. I felt like I finally understood what was happening rather than just hoping I’d done it right.”
4. What was the outcome of their support?
Emma: “They helped me calculate the correct gain and claim the reliefs I was entitled to, which reduced the final tax payable significantly. And they also helped me complete the return itself, which was something I really didn’t feel confident doing alone.”
5. How would you describe your overall experience working with the team?
Emma: “Professional yet really personal. I never felt like just another case. They checked in, explained clearly, and genuinely cared about making sure I understood the decisions being made. I’d recommend them without hesitation — especially if, like me, you find tax stressful and confusing.”
Q&A Selling an Inherited Property
At The Tax Faculty, we understand that CGT can be confusing and complex, especially when it comes to property. That's why we are here to help. Our team of experts can provide you with tailored advice and guidance on all aspects of CGT, including how to minimise your liability and take advantage of any exemptions or allowances that may apply to your situation.
If you are thinking of selling a property or any other asset and want to make sure you are not paying more CGT than you need to, contact us today for a free consultation. We can help you navigate the complexities of CGT and ensure that once a property has sold that all filing is completed within the 60-day time limit.
If you require assistance with you CGT circumstances, please feel free to contact us on info@capitalgainstax.co.uk or call us free on 0800 0016 878 for a free initial consultation.
You can also complete the form below and one of our team will get back to you as soon as possible.
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Tax Troubles? We're here to help
We can solve your Capital Gains Tax problems, with ex-senior expert HMRC inspectors here to help to take the stress away from your tax worries.
We do everything for you, including filing returns and giving advice that may help to reduce the amount of tax that you owe.
Our guarantee to you - You will pay the lowest amount of tax possible, while complying with the law.
Contact us free on 0800 0016 878, email info@capitalgainstax.co.uk or fill in our handy form and on of our experts will get back to you as soon as possible.
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