Tax?

[bazilbrush]

My granddad died years ago now a good 10 I would say. Before this my dad and all the brothers never really was close. Found out as I got older my dad had stabbed one of them quite bad when younger. Made sense then as to why my dad seemed to always go ott at me and my brother not to fight each other. Didn't ever hate each other though and was civil just didn't meet often or anything.

Anyway my granddad died and lost contact with the eldest brother. Just didn't hear from him at all after the funeral. He got in touch last week though out of the blue. Said he had been trying to get hold of us but we had moved. He has some bits he took from my granddads house when he died. A watch that belonged to my granddad which I should have as the eldest grandson. I already know what watch it is as I used to put it on even when the bracelet was too big for my skinny arm lol. I won't want to keep it though, its not like something kept in the family for generations or anything. If I was to sell it to a jewellery shop will I be taxed? If so how much? Watch is worth about 30k wouldn't get that for it though of course.

More exciting for me from a family point of view. He has boxes and boxes of my granddads old negatives? Think it's called that lol . My granddad was a photographer and took photos of everything. Would be cool to see what photos there are although he said there is absolutely thousands undeveloped. Also have some of my granddads old cameras. Extra icing on the cake is my granddads old dogs paper work. Just so can look up his pedigree and see how he was bred. Always wanted to know when I got older but had given up on the idea. Be interesting to see if I owned any distant relatives to the dog.

Thanks

[Trex]

No jewelry shop will give you what its worth .

I find it a total fawkin disgrace youre even thinking of selling it . Keep it a family heirloom you dolt and pass it on . Its worth more then money .

Sent from my SM-G950W using Tapatalk

[M_C]

Would this be the same watch that your grandfather gave you many years (more than 7) before he died? (wink!)

Of course, if it is a watch given to you after his death could we assume that it was included in valuation purposes for probate? If so then fine, tax has been paid. If not then it could be attracting up to 40% tax

[Ironman]

My granddad died years ago now a good 10 I would say. Before this my dad and all the brothers never really was close. Found out as I got older my dad had stabbed one of them quite bad when younger. Made sense then as to why my dad seemed to always go ott at me and my brother not to fight each other. Didn't ever hate each other though and was civil just didn't meet often or anything.

Anyway my granddad died and lost contact with the eldest brother. Just didn't hear from him at all after the funeral. He got in touch last week though out of the blue. Said he had been trying to get hold of us but we had moved. He has some bits he took from my granddads house when he died. A watch that belonged to my granddad which I should have as the eldest grandson. I already know what watch it is as I used to put it on even when the bracelet was too big for my skinny arm lol. I won't want to keep it though, its not like something kept in the family for generations or anything. If I was to sell it to a jewellery shop will I be taxed? If so how much? Watch is worth about 30k wouldn't get that for it though of course.

More exciting for me from a family point of view. He has boxes and boxes of my granddads old negatives? Think it's called that lol . My granddad was a photographer and took photos of everything. Would be cool to see what photos there are although he said there is absolutely thousands undeveloped. Also have some of my granddads old cameras. Extra icing on the cake is my granddads old dogs paper work. Just so can look up his pedigree and see how he was bred. Always wanted to know when I got older but had given up on the idea. Be interesting to see if I owned any distant relatives to the dog.

Thanks

I don't see any way you could be taxed on a watch mate. More likely you'll need to prove your the owner though.


Sent from Thames Iron works

[Sadface]

Get it valued
Get it insured
Get it worn

[bazilbrush]

I don't see any way you could be taxed on a watch mate. More likely you'll need to prove your the owner though.


Sent from Thames Iron works

Have all the paper work and everything ain't stolen or nothing like that. Mind you I did find a box full of cash in my granddads once when younger lol . Even now when older I ain't got a clue, my dad said he never told him nothing.

[bazilbrush]

Would this be the same watch that your grandfather gave you many years (more than 7) before he died? (wink!)

Of course, if it is a watch given to you after his death could we assume that it was included in valuation purposes for probate? If so then fine, tax has been paid. If not then it could be attracting up to 40% tax

Lol gotcha will it just be a case of having to inform them if asked on how I had received the watch 8 years before he died? I mean surely everyone would just say that.

[bazilbrush]

No jewelry shop will give you what its worth .

I find it a total fawkin disgrace youre even thinking of selling it . Keep it a family heirloom you dolt and pass it on . Its worth more then money .

Sent from my SM-G950W using Tapatalk

I know that mate, don't expect to get its value as everyone's wants to make a drink. If it had been in the family for longer than my granddad I would be tempted. I won't waste the money anyway I'm not desperate for cash or looking to go Ibiza this summer lol. The photos would hold more value tbh and for me the dogs paper work beyond all that lol