I am still not sure which way to go with this. What proportion of the sell price do you think would be applied to the garage/office? His will states that his estate is held in trust for the children by me and I am allowed to buy a dwelling for myself and youngest child using his half of the equity and my own. I can split the repair costs between the years
We have been in this house for about 27 years so obviously the value has increased greatly. He did not work from home all these years but I have been unwell for many years myself and am unsure of the dates. It would be at least 10 though. Does the capital gains apply to the whole increase in value over all of the time we have lived here?
Ok you have lost me a bit there. Not being sure of the dates say for example the garage doors were replaced by windows 10 years ago and the garage then became used as an office, does the proportion of the house that is the garage become liable for capital gains on the value of the house 10 years ago till sale or from first purchase price 27 odd years ago till now? Also what is Entrepreneurs' Relief and how is it used?