My mother with best of intention has transferred her PPR to her three sons. (7 year idea I guess). It was her PPR. Now it is none of our PPRs. The property is valued at £300K and expected to rise with minor works. The property was gifted 8 months ago. Is there any way the tranfer can be made void as all parties are willing. If we gift back does this add another 7 year IHT complication?
CGT is now beginning to develop so we would like to achieve a IHT strategy from here on but also allow for somewhere for her to live.
Any comments would be excellent.
What kind of fee would such a situation cost to remedy?
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