Hi all,
Please can general advice be given as my father is thinking of putting his house into my name and I move in with my husband, but what is most tax efficient use of 7 year rule now and in the future using the following information :
a) House, no mortgage, worth anywhere between £0.9m to 1.2m
b) He has shares worth £0.5m
c) Bank accounts of £0.5m
My mother passed away some 15 plus year ago and nothing came to me at that time, therefore can be assumed her full allowance is available (£325k plus current residence allowance for 2018/2019 of £125k). Father in good health but in his 80's. I own my own home outright and would either sell or rent out.
Many thanks in advance as aim is to give him general advice first.
C
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