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Where Taxpayers and Advisers Meet

IHT on main residence

Joined:Wed Aug 06, 2008 3:29 pm
IHT on main residence

Postby SallyR » Tue Dec 07, 2021 8:40 pm

My 95 year old mother has a number of rental properties in addition to her main residence. She has recently moved out to live with my brother. If we rent out her main residence will this impact the main residence exemption for IHT in the future.

Joined:Fri May 16, 2014 3:47 pm

Re: IHT on main residence

Postby AGoodman » Wed Dec 08, 2021 11:48 am

No, the rules only require that she has lived in it at some point (it is residence, rather than main residence).

It could reduce the main residence relief for CGT but that would be very gradual and you may not plan to sell during her lifetime anyway. It certainly wouldn't be a reason to change your plans.

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