An elderly couple have reached the age where living in their house with stairs and a garden is an increasing burden. They have owned a buy to let flat for many years and now have in mind the possibility selling their present house and moving into the buy to let flat as their only and primary home.
Their will currently bequeaths their home to their children to take advantage of the increased IHT allowance for those who leave their home to their children.
Would the fact that the flat was once a buy to let preclude it from ever being recognised as their primary home, and is the safest course of action to sell both properties and buy a new flat.
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