17 Dec 2012 8:38 AM:

 My in laws have recently inherited a property from their son, they have paid the taxes for the inheritence and now have a buyer for the property. He died nearly 2 years ago but they officially gained ownership in the last 2-4 months, I have been told they will need to pay 3% tax on the value of the property as they are non residents plus 21% of the full value of the property for CGT, as they inherited the property the 21% will be for the total sale value. I am really lost, whilst they dont want to pay such a huge amount of money, they also dont want to be chased for taxes due in the future, Whilst they are both non residents but their son was a resident. Any help would be appreciated Thanks

Thread: Tax info on selling a recently inherited property please

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