Hoping there's a property tax specialist or similar on here who can enlighten me on this!
FIL is now a permanent resident in a dementia care home. He is self-funding (pensions+attendance allowance+savings) and owns a house nearby. We are doing up the house with a view to renting it out to help pay his fees. DH has EPA and has managed his dad's finances etc for years. No siblings.
We have been informally advised that to bring the house up to letting standards would cost a lot and we would do better to sell it and buy a purpose-built flat to let out.
I gather that FIL would get residence relief on the CGT liability of a sale. Would he still be liable for the new 3% extra stamp duty on a new flat even if it's the only property he owns?
Also, will be it fairly straightforward for DH to do the sell/buy transactions even though the deeds are in his dad's name?
Thanks so much for any help you can give me
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Buy-to-let to fund care home?
5 replies
pinkpanda101 · 28/04/2016 19:13
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