Good Evening
I am desperate for some advice if anyone can help
Have spoken to an accountant but he seems unclear ,and he has to go somewhere else for advice, and i need help now really
My mum and dad gifted me their house in about 1984 as my dad was ill and my mumwas worried that if she pre deceased him my siblings would put him in a home and then chuck me out
Anyway , i took over their bills and their care and evrything really and hopefuly gave them a worry free life
My dad dies in 1989
I moved out the house in 1992 as I got married but continued to look after my mum until she passed away in 2014
I would have liked to have kept the house to move back into one day as i was born there, however i have been renting it out and really hate doing that
So i was just wondering, as it was a gift with reservation (i think!) but because its now my second home, if I sold it would it be liable for iht,cgt or something else entirely different?
And if it was iht , as Mums estate was less than £250k would i pay tax on it?
And if its cgt , how do i find out what itwould have been worth back then- i have spoken to the inland revenue and they cant help me
Would be really grateful for any help on this - its making me ill worrying about it
Thanks
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