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Where Taxpayers and Advisers Meet

Allowance for Dependant Relative?

trainline
Posts:26
Joined:Sat Oct 02, 2021 4:25 pm
Allowance for Dependant Relative?

Postby trainline » Sat Feb 19, 2022 12:00 pm

Good morning,

A sibling and I inherited my mother’s house on her death in 1988. My father (then 65) continued to live in the house rent-free for the next 8 years. In June 1996 we sold the house (I think we were ignorant of any dependant relative allowance at the time) and moved him into another house which we still own, with spouses now added as co-owners. Our father died in late 2019 and after a delay for some planning permission, we have the property on the market. Is there any PPR type allowance against CGT that we can claim for my fathers occupancy since 1996, or retrospectively earlier?

Many thanks
T

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Allowance for Dependant Relative?

Postby bd6759 » Sat Feb 19, 2022 4:42 pm

DR relief was withdrawn for disposals after 5 April 1988. It continued to apply only for properties that were acquired before and occupied by a DR on that date.

trainline
Posts:26
Joined:Sat Oct 02, 2021 4:25 pm

Re: Allowance for Dependant Relative?

Postby trainline » Sat Feb 19, 2022 6:58 pm

Thank you for clarifying that. I take it that given the demise of taper relief also, there are no other allowances that apply other than the CGT allowances and improvement expenses?

bd6759
Posts:4262
Joined:Sat Feb 01, 2014 3:26 pm

Re: Allowance for Dependant Relative?

Postby bd6759 » Sat Feb 19, 2022 11:02 pm

There are no reliefs.


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