TSEM6078 - Legal background to trusts and estates: value of assets transferred from an estate
For capital gains tax purposes, personal representatives are deemed to have acquired the assets at the date of death. »Ê¹ÚÌåÓýapp deemed acquisition is at the market value. »Ê¹ÚÌåÓýapp death is not an occasion of charge (CG30320 onwards).
Similarly, there is no charge when personal representatives transfer an asset to the person entitled to it. »Ê¹ÚÌåÓýapp transfer is deemed to be at the same value as when the personal representatives acquired it (CG31140).