Inherited shares in the UK - how do I report CGT when I sell?
I’m looking for some guidance on how CGT works for shares I inherited in the UK.
About 2 years ago, my grandfather transferred a share portfolio to me using a stock transfer form. There was no probate and no will. The transfer of shares happened in March 2024, and he passed away in June 2024. At the time, the portfolio was worth around £60k, and it has since grown to around £185k–£190k.
I’m now planning to sell a significant chunk of the portfolio, and I want to make sure I report the capital gains correctly. My understanding is that my base cost should be the market value of the shares on the date of death, but I’m not sure about the actual filing process.
Do I:
- report it through Self Assessment, or use the real time CGT service?
- need to hire an accountant?
- need to send HMRC any documents like the death certificate or stock transfer form?
- calculate and pay it myself, or does the broker/HMRC handle any of it?
Any advice from people who’ve dealt with inherited shares would be appreciated.