Selling second property bought for my parents

[mellb]

3 years ago my parents moved from Staffordshire to be closer to us and the grandchildren in Suffolk. They were already retired and couldn't afford to live here, so my husband and I bought them (with a mortgage) a house near us, which they live in rent-free. The problem we have now is that they need to move to a bungalow and i think we will be liable for about £15000 CGT as the £50000 we spent on modernising the house can't be used to offset our liability as it was for replacement and maintenance, i.e. rewiring, complete new heating system, replastering, new kitchen, bathroom etc. With the new stamp duty rules as well, we would be £30000+ out of pocket and wouldn't have enough to buy a bungalow for them.
Is there anything I can legally do to reduce our cgt liability as it was a home for my parents and we've never charged rent or received any money from it?
Thank you

[maths]

Presumably although you say we bought our parents a property the beneficial and legal interests are held by you and your husband ie at the date of the purchase no declaration of trust was executed under which although you and husband hold the legal title you held it for your parents beneficially?

Assuming the above is correct then no private residence relief for CGT purposes will be available on disposal.

It may be that some of the expenditure incurred will qualify as increasing the base cost of the property.

Each of you will also be entitled to an annual exempt amount of £11,100.

[mellb]

Many thanks for your reply.