Death and Personal Representatives: Legatees and their treatment: Computing gains arising to legatees: Legatees: computing gains arising to: expenses of transfer
Where a person
- makes a disposal of a right or interest in or over an asset
then TCGA92/S64 (1) provides for a deduction to be made in computing the capital gain in respect of certain expenses arising on the transfer of the asset to him or her.
The expenditure for which a deduction may be claimed is
- any expenditure relating to the transfer of the asset from the personal representative that the legatee has incurred and which falls within TCGA92/S38 (2) - in other words what is normally described as incidental expenditure
- any expenditure of a similar nature incurred by the personal representatives in relation to the transfer of the asset to the legatee.