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Capital gain or capital loss on death is disregarded

Last updated 3 March 2016

There is a general rule that CGT applies to any change of ownership of a CGT asset, unless the asset was acquired before 20 September 1985 (pre-CGT).

There is a special rule that allows any capital gain or capital loss made on a post-CGT asset to be disregarded if, when a person dies, an asset they owned passes:

  • to their legal personal representative or to a beneficiary, or
  • from their legal personal representative to a beneficiary.

QC27527