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Alan, I am dealing with a probate case and under the will a beneficiary received a specific bequest of quoted shares. However, Probate did not issue for another 12 months and the shares rose substantially in value. Is the valuation date in this case the date of death or date of probate? I might also add that the beneficiary and the administrator are the same. If the valuation date is the date of probate, it seems grossly unfair that from a CGT point of view the date of acquisition is date of death but the valuation date for CAT is date of probate. The beneficiary is now sellng the shares and is in effect paying CGT and CAT on the increase in value ? I look forward to your comments.

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Asked on 25 July 2018 10:49 am