I hold a POA registered with the court of protection for an dementia suffering elderly relative. I am planning to sell her present property and purchase sheltered housing that offers very close support.
Some years ago her present property was let out for around 8 years but her total period of personal residence is 17 years, and I have been advised that this has cancelled out any possible risk of a CGT liability arising from the years when the property was rented out
The funds from the present sale would be needed in their entirety to cover the cost of the sheltered housing and any shortfall would be disastrous. I wondered if there was any means of obtaining a firm assurance that no CGT is due prior to agreeing a sale.
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