Selling Inherited House
#1
Forum Regular
Thread Starter
Joined: Mar 2013
Posts: 223
Selling Inherited House
Hi All,
Unfortunately I had a death in the family a few months ago and the house was left to me.
Now I will be selling the house, I want to go through the correct channels not to piss the CRA off. So any advice would be appreciated, I'm wondering if I should have the sale transferred to my UK account, then use ForEx to transfer to my account rather than use the banks exchange rate, or if this would cause issues.
Do I have to contact the CRA to tell them I have sold a house, or will I do that all on my tax return?
Thanks
Unfortunately I had a death in the family a few months ago and the house was left to me.
Now I will be selling the house, I want to go through the correct channels not to piss the CRA off. So any advice would be appreciated, I'm wondering if I should have the sale transferred to my UK account, then use ForEx to transfer to my account rather than use the banks exchange rate, or if this would cause issues.
Do I have to contact the CRA to tell them I have sold a house, or will I do that all on my tax return?
Thanks
#2
BE Forum Addict
Joined: Jan 2008
Location: Near Kingston, Ontario
Posts: 1,316
Re: Selling Inherited House
Maybe a bit more information- I am assuming from your comments that the house is in the UK? Any inheritance tax due to be paid in the UK?
#3
Forum Regular
Thread Starter
Joined: Mar 2013
Posts: 223
Re: Selling Inherited House
There shouldn't be any inheritance tax house will be sold for less that £150k