If you have been appointed an executor of a deceased estate, you are responsible for managing the deceased estate. This includes fulfilling the tax responsibilities of the deceased estate.
When the assets of a deceased estate are distributed, a special rule applies that allows any capital gain or loss made on a CGT asset to be disregarded if the asset passes:
However, if an executor sells an asset of the deceased estate and then distributes the proceeds to the beneficiaries, the sale is subject to the normal rules and CGT applies.
Apart from CGT there can be are a number of additional taxation considerations. Contact the BASMAN for more information.