My father passed away last year and his estate included a pre CGT property (farm). The probate application is been finalised and the solicitor is adopting the valuation as per the most recent rates notice for the schedule of assets and liabilities. The farm is also going to be independently valued as it is expected the value will be higher than the rates valuation and we have been advised by the Accountant to do this as this will set the cost base for CGT purposes. The solicitor has advised the value adopted for probate purposes can be different to the value used as the cost base for CGT purposes. Is this correct?
241 views
241 views1 replies
1 replies
241 views
1 replies