Dear all,
I care for my father who has recently signed his sole property over to me and we all live in this house together and have done for 15 years.
As he remains living at said house I understand it is a 'gift with reservation' and the 7 year IHT rule does not apply.
Now the house upon the transfer date was completely dilapidated and in need of major repairs and renovation and I'm going to be spending a small fortune doing the place up.
So would IHT be calculated on the value upon the date of his signing the property to me or the value upon his death?
kind regards
M
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