This advice sounds wrong to me. If the property is being disposed of by the Estate, the Estate is liable to CGT on the increase in value between date of death and date of disposal. The Estate is not entitled to an annual allowance on gains. The net proceeds after disposal are distributed to the beneficiaries. If the Estate was to make a loss on disposal, those losses do not transfer to the beneficiaries for offset against other gains. The two transactions are completely unrelated. The OP is partially correct - the Estate pays CGT, the beneficiary pays CAT