Eight years ago, I inherited from my father a part share of a house that was being rented out. Last year I sold my share to my father's widow. Do I have to pay tax on what she paid me?

Arthur Weller replies:
If what she paid you is more than the value of what you inherited from your father eight years ago, then you have made a capital gain and you need to pay capital gains tax (CGT). You can find out what the value was eight years ago by finding out the probate value of the property used in the inheritance tax computation when your father died. See www.gov.uk/hmrc-internal-manuals/capital-gainsmanual/cg31180.