Help with CGT form

[SMPLLN]

I inherited the family home with three siblings. The house is now sold and there is a CGT liability. Do we each have to complete a CGT form? Is the amount of consideration the total sale price of the house? or do I input this amount as a quarter share of the sale price? I'm finding the form confusing.

 

[Susiesue]

Have you got your inheritance tax sorted? You're entitled to inherit 400,000 tax free from a parent .

 

[ClubMan]

I inherited the family home with three siblings.

Did the estate/executor sell the house, pay any CGT due and distribute the net proceeds to the beneficiaries? Or did you and your siblings inherit the house and only then sell it in your joint names?

 

[SMPLLN]

We inherited the house, transferred it to our names and then sold it. The probate value was less than what we sold it for, so that's the CGT liability.