I need to sell my father’s cottage – what tax do I pay?

I’m the sole beneficiary under his will and I’m not sure if I need to to register it as my second home

Q I recently inherited my father’s cottage as sole beneficiary under his will; probate was completed on 7 February 2019. Reluctantly, I have decided to sell the cottage. As I am selling it, do I need to register it as my second home, or not? When it sells, what do I need to do about any tax I might need to pay?
HA

A If there was inheritance tax for your father’s estate to pay, you would have found this out – and would have had to arrange to pay it – before probate was granted so you don’t need to worry about that. You also don’t need to worry about registering your late father’s cottage as your second home as it’s clearly not a second home to you. Even if you do own two (or more) properties and treat them both (or all) as your home, the only thing you need to do is nominate which of the homes is your main home. Telling HM Revenue & Customs (HMRC) the address of your main home – which you must do within two years of acquiring more than one residence – means that when you come to sell it, it should be free of capital gains tax (CGT).

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