Capital Gains Tax (CGT) is not usually charged simply because you inherit a property. If you sell it later, the gain is generally calculated using the property's market value when the previous owner died, rather than what they originally paid, minus allowable selling costs and certain improvement costs. Any gain may be affected by your ownership share, Private Residence Relief and available allowances; Inheritance Tax is a separate issue. If CGT is due on a UK residential property, you may need to report and pay it within 60 days, so check the current guidance on GOV.UK or speak to a tax adviser.