Hi,
our dad died before fair deal was implemented and left my mum a 'Life interest in the Home and Farm and thereafter to his 5 children in equal shares'. My mum is 91 and none of us are farming as it has been leased. Per fair deal assessment she will have to pay the full nursing home fee.
If we (mum and children) decided to sell some of the land to fund my mum's care can we the children claim the tax relief if we pay the nursing home costs on her behalf or would this be seen as tax avoidance.
What if she gifts us the land now and we sell to fund her care to claim relief ?
Other option is to get the fair deal loan, or would it be better for my mum to fund herself with land sale ? what are the advantages if any ?
any advice very welcome
our dad died before fair deal was implemented and left my mum a 'Life interest in the Home and Farm and thereafter to his 5 children in equal shares'. My mum is 91 and none of us are farming as it has been leased. Per fair deal assessment she will have to pay the full nursing home fee.
If we (mum and children) decided to sell some of the land to fund my mum's care can we the children claim the tax relief if we pay the nursing home costs on her behalf or would this be seen as tax avoidance.
What if she gifts us the land now and we sell to fund her care to claim relief ?
Other option is to get the fair deal loan, or would it be better for my mum to fund herself with land sale ? what are the advantages if any ?
any advice very welcome