{"id":20531,"date":"2022-09-12T17:46:59","date_gmt":"2022-09-12T16:46:59","guid":{"rendered":"https:\/\/taxfix.com\/en-uk\/?p=20531"},"modified":"2024-10-31T13:44:35","modified_gmt":"2024-10-31T13:44:35","slug":"what-capital-gains-tax-is-payable-by-executors","status":"publish","type":"post","link":"https:\/\/taxfix.com\/en-uk\/the-tax-basics\/what-capital-gains-tax-is-payable-by-executors\/","title":{"rendered":"What Capital Gains Tax is payable by executors?"},"content":{"rendered":"<\/div> \n\n
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Heads up! As of the 31st October 2024, the lower rate of Capital Gains Tax will increase from 10% to 18%, while the higher rate will rise from 20% to 24%.\u00a0<\/span><\/p>\n

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If you\u2019re selling a second home, don\u2019t worry – the current rates of 18% and 24% for property sales aren\u2019t changing. <\/span>
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\n<\/span>\ud83d\udea8For the full scoop on this year\u2019s Autumn Budget, <\/span>check out our blog<\/span><\/a>. \ud83d\udea8<\/span><\/p>\n\n <\/div>\n<\/div> \n\n

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In this guide, we\u2019ll help you understand what Capital Gains Tax is payable by executors.<\/p>\n\n\n\n

After someone dies, their estate (money, possessions and property) is left to an executor named in their will. <\/p>\n\n\n\n

The executor is legally responsible for taking care of their estate, which will likely include paying any taxes that are owed, including Capital Gains Tax.<\/p>\n\n\n\n

Getting to grips with CGT now will put you in the best position when it comes to organising assets further down the line, helping you avoid any potential problems.<\/p>\n\n\n<\/div> \n\n

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Have you been named as executor<\/span>?<\/span><\/i><\/h2>\n

If someone you know has passed away and you\u2019ve been named as an executor, you might be wondering what that means for you.<\/span><\/p>\n

From securing a property after their death to paying outstanding taxes and organising their estate, there\u2019s a lot to consider! You might also find there are others named as executors alongside you.<\/span><\/p>\n

Being an executor might seem daunting at first, but we can help to simplify things when it comes to tax.<\/span><\/p>\n\n <\/div>\n<\/div> \n\n

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Am I responsible for tax?<\/h2>\n\n\n\n

Being an executor means you\u2019ll have some tax responsibilities. This includes: <\/p>\n\n\n\n