Will my sons have to pay inheritance tax on my death? Should I be transferring my shares to them? I am loath to do this if not absolutely necessary as it will make this poor old lady feel redundant!
Before my mum became ill she changed her will and has left everything to me. I know this will cause upset and I plan to give my sister half of the house sale. Will I pay tax on that?
We bought the house 18 years ago for £225,000, but I moved into a friend’s spare room just over a year ago. Do I need to pay capital gains tax on the property sale?
Due to a fluctuating market I was advised in writing by HMRC of a £32k capital
gains loss. Is there any way of offsetting this against capital gains I have now
made?
Judging by online auction prices, I would think they are probably worth up to £20k. Of course I paid nothing for them, but if I did sell them would I have to pay capital gains tax?