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Where Taxpayers and Advisers Meet

Tax on Home in Family Trust

mrfixituk45
Posts:2
Joined:Fri Mar 25, 2022 8:37 am
Tax on Home in Family Trust

Postby mrfixituk45 » Fri Mar 25, 2022 8:46 am

My sister and I set up a family trust in October 2015 as our dad was diagnosed with dementia. The family home my dad owned 1968 was placed in it as tenents in common. I have always lived there apart from a 2 month gap many years ago. My dad moved out for 10 years but came back again when he was diagnosed. I was his main carer and my sister also reguarly helped. He died in April last year. I am looking to buy my sisters half or the house will have to be sold. Are there any tax implications if it is half or fully sold?

Thanks!

entax
Posts:3
Joined:Tue Mar 29, 2022 9:48 am

Re: Tax on Home in Family Trust

Postby entax » Tue Mar 29, 2022 10:08 am

Hello,

Sorry to hear about your father.

Has the house been passed to you and your sister through probate?


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