Gift to Orphan relative

S

seashore

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Looking for financial advice please. I have a niece, aged 29. Her parents died when she was very young. She did well at school and college, but when she started doing a masters she was diagnosed with autism. She has never worked much, or earned money. Now she is finding it impossible to get accommodation. A month ago, she applied for job seekers and got it. She does not have any money other than that.

My question is if my siblings and I got together and managed to raise enough money to buy a small home, (from our savings) what are the tax implications? Are there any special allowances for people with a disability? We do not want her homeless. All information and advice would be greatly appreciated.
 
Hi I not tax advisor. So might worth double check with tax advisor the below. Were a child/ minor who has been taken care ( proof of medical bills,education and housed) by 3rd party during their childhood . That revenue will possibly look at the them having a parent/child relationship.
It can possibly get the lifetime CAT class A for any gifts/estates from this person. This limit might been already used when she child with her parents estate already.

I believe this is cover this were a child is orphan/abandoned and raised by someone else during childhood
 
seashore said:
Are there any special allowances for people with a disability?
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There are exemptions, but the threshold is quite high to gift a property:
"who is permanently and totally
incapacitated due to mental or physical infirmity from maintaining himself or herself
or who is aged 65 years or over at the date of the inheritance."

Total incapacity means that a person is not capable of earning a living from any kind of work.

There are potentially other avenues to also explore; purchasing a property and providing free use, or putting a deed of covenant in place to provide her money annually and receive tax relief.

Hopefully others have more ideas.
 
luckystar said:
Doubtful as this relied solely relates to a business where the niece or nephew was an employee/worked for the company from what I can gather anyway
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Yes, but there's a slim possibility that that might be relevant here or could be in the future.
 
Many thanks for all the replies. The suggestion of buying a property and giving free use is probably the most suitable, I think. It may not be feasible , but I think it is worth following up. It certainly would give "peace of mind" to all.
 
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