Do I need to tell hmrc after deceased property has finally sold?

[Hamsternautss]

Hi, my deceased father's property finally sold and I'm unsure if I need to declare this? The property was first marketed back I'm august 2022 at 150k and it sold for 140k end of october. The estate didn't meet inheritance tax threshold but I'm wondering if I need to submit something regarding capital gains tax even though I don't think I'm required to pay any capital gains. I did all the probate stuff last year by myself and it was granted in June 2022. The property was not my main residence.

I feel in a bit of a grief haze again after it is finally sold so would appreciate some advice thank you.

https://www.gov.uk/tax-sell-property/work-out-your-gain

then https://www.gov.uk/report-and-pay-your-capital-gains-tax/if-you-sold-a-property-in-the-uk-on-or-after-6-april-2020

Note you have to declare and pay within 60 days.

but you probably won't need to because June 2022 (probate granted) to October 2023 (sold), i doubt its value raised high enough that you go anywhere near the annual threshold (allowance).

You won't have anything to pay. BUt do the calculator and just confirm/screenshot it and declare it properly, obviously, don't trust a random on the internet.

There's no gain so no you don't need to submit anything to HMRC. You only need to submit a return if there is a gain. Keep the paperwork in case of any questions at a later date.

Hi, I was executor for my deceased mother. Her home was sold in 2021 for less than the estimated figure on the Inheritance Tax form, and no IHT or Capital Gains Tax was due. No one lived in the house between her passing away and the house being sold. It wasn’t rented out etc. Nothing on the government website which tells you what to do when someone dies, mentioned declaring the property sale to them.
March 2024 - I’ve received a letter from HMRC stating that even though there is no Capital Gains Tax due, I should have opened a “Capital Gains on UK property account” online and declared the sale of the property within 30 days of selling it. I believe it’s now 60 days after completion. Because I didn’t do this I may be fined.
The information online from various sources (including Mumsnet ) states you only need open this account if you have to pay CGT. I now know that this is not true, and I’m now worried about how much I may be fined, as I’ve paid out her money to other relatives and the fine will have to come out of my savings.
This may be too late for the original poster, but for others in this situation, if you’re in doubt, phone HMRC. It’ll be worth the 40 minute wait to speak to someone.

Hi Debbie,
I'm really sorry to read about the loss of your mum and the stress from HMRC afterwards. I'm in the same position after the sale of my granny's house as I'm one of her two executors. No IHT due but I've just received the letter. Did you have to set up the account to declare no CGT due in the end?
Thanks

Hi, so far I haven’t had to set up the “capital gains on UK property account “ online but was told to send them a letter setting out everything - dates, amounts, etc. I did this and after a few weeks I received a letter confirming receipt of my letter. It stated that they would contact me again if they needed more information. I’ve received nothing since then. I’m hoping this means I’m not going to be fined, but the letter didn’t state this. I’m just keeping quiet and hoping they’ll forget about me 😕