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HMRC internal manual

Capital Gains Manual

HM Revenue & Customs
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Personal representatives: incidental expenses

TCGA92/S38 & SP7/81

Following the decision of the House of Lords in the case of CIR v Richards Executors 46TC626, an agreement was reached between the Board of Inland Revenue and various professional bodies concerning the amounts that would be accepted as allowable incidental expenditure when personal representatives sell an asset from the estate. That agreement has subsequently been revised to take account of changes in the scale of charging caused primarily by inflation.