The deceased left the whole of her estate, including her home, on discretionary trusts. In order to be able to claim the RNRB and to avoid having to pay the IHT upfront, the
trustees executed a deed of appointment appointing the property to one of the children prior to the submission of the IHT400 and to the application for the Grant, but the property has not been transferred to the beneficiary and there has been no assent or
appropriation to the trustees. The property is on the market for sale and the estate continues to pay the utilities. The estate administration is not yet complete.
It now seems likely that the property will sell for less than the probate value, and the intention is that the sale will be by the executor. In these circumstances am I right
in thinking that we can still claim loss on sale relief? Or does the appointment to the beneficiary under the trust prevent that?
Also, on a related point, will the sale also be by the executor for CGT purposes? (I assume one follows the other, so if the sale is by the executors for the purposes of IHT,
the same is true for CGT, but it is particularly pertinent in this case because the beneficiary in question is not UK resident).