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HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
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Death and Personal Representatives: Personal representatives and their liabilities: Personal representatives: annual exempt amount

TCGA92/S3 (7)

In assessing gains arising to personal representatives in that capacity during the administration period the full amount of the annual exemption should be allowed in an assessment

  • for the tax year in which the individual dies no matter how short this period is, and
  • for the two years of assessment following the tax year in which the individual died.

No such exemption should be allowed in any assessment raised for any subsequent year during which the period of administration continues, see CG18010.