CGT where property was dependents' PPR

orka

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My father has retired recently and is about to dispose of the building that he owned and worked in for the past 30 years - he will use the proceeds to provide some form of pension for his retirement. There has been a lot of capital appreciation since he bought it in the 70s and he will be hit with a CGT bill. As well as his old main office space (currently let to a tenant), the building has 2 flats which he now has let out to strangers - these rents are his main current income. My 2 grandmothers lived rent-free in the flats for about 20 years of the 30 years that he has owned the building (they both died in the past 10 years) - can my father claim some relief from at least part of the CGT on the grounds that the flats were dependents' PPRs? Thanks.
 
Hi orka, there was some discussion on the subject of dependant relatives living in 'investment properties' here, which may be of use to you.

Your father should seek advice from a tax consultant prior to the disposal of his property.
 
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