Q&A

Answer a question



17 January 2013

Property CGT and PRR with ownership of two homes.

My mum owns two homes. a) First home bought in 1990 b) Second home bought in 1998 The second home was elected as the PRR in 2006. Following the passing of my late father my mother is considering selling one or both homes. For the sake of IHT and CGT what is here position on the properties in terms of gains and legitimately avoiding tax bearing in mind property inflation peaked in 2007, having risen for 10 to 15 years before. What is the best solution to selling one or both homes? Thanks

  • REPORT This comment has been reported.

5 Answers

Answers


Do you want to answer this question? You need to be signed in for this feature

Answer a question


Copyright © lovemoney.com All rights reserved.

 

loveMONEY.com Financial Services Limited is authorised and regulated by the Financial Conduct Authority (FCA) with Firm Reference Number (FRN): 479153.


loveMONEY.com is a company registered in England & Wales (Company Number: 7406028) with its registered address at First Floor Ridgeland House, 15 Carfax, Horsham, West Sussex, RH12 1DY, United Kingdom.


loveMONEY.com Limited operates under the trading name of loveMONEY.com Financial Services Limited.


We operate as a credit broker for consumer credit and do not lend directly.


Our company maintains relationships with various affiliates and lenders, which we may promote within our editorial content in emails and on featured partner pages through affiliate links. Please note, that we may receive commission payments from some of the product and service providers featured on our website. In line with Consumer Duty regulations, we assess our partners to ensure they offer fair value, are transparent, and cater to the needs of all customers, including vulnerable groups. We continuously review our practices to ensure compliance with these standards.


While we make every effort to ensure the accuracy and currency of our editorial content, users should independently verify information with their chosen product or service provider. This can be done by reviewing the product landing page information and the terms and conditions associated with the product. If you are uncertain whether a product is suitable, we strongly recommend seeking advice from a regulated independent financial advisor before applying for the products.