I have a client whose SA I normally complete online however last year they inherited £152000 from a house sale, the property was placed in trust however the father was allowed to live in the property until death and then the property sold and the funds split between them and another family member. The property was lived in by their father under the trust until his death so am I right in that as the father lived their till death there is no capital gains as the father had an "Interests in Possession " under the trust and the value of the property at the time of the fathers death was more than what the property sold for?
If you struggle getting any responses to this one I would go straight to HMRC and get the answers from them.
I had a return to do for a client for her pension but her sons received trust from Foreign income from their deceased father.
It all seemed like a mine field but once I spoke to HMRC and gave them all the information it all became a lot easier.
After all it is them who say what is taxable and what isn't so find it easier to go straight to HMRC.
