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TaxRobin
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Elderly mother went into nursing home in May 2012; her bungalow

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Elderly mother went into nursing home in May 2012; her bungalow is rented out to help pay for her care. Before the last autumn statement, we had until May 2015 to sell before CGT needs to be paid - old rules were 3yrs relief. New rules mean CGT after 18mths vacancy; is this retropesctive or is my mother still covered by the 3yr relief? Thank you. GG
Submitted: 2 years ago.
Category: Tax
Expert:  TaxRobin replied 2 years ago.
Hello,
There is an exception for those that are disabled or in long term care.
This measure is set to become law later in 2014 and allows for the 36 months as before.
Customer: replied 2 years ago.

Thank you. Where can I find details of the exemption you mention (and it's intended introduction) as HMRC's current advice sheet does not help me and they seem unable to be able to refer me to the relevant legislation or 'measure'??? GG

Expert:  TaxRobin replied 2 years ago.
S.222 TGCA introduces PPR relief:
The new s.225E continuation of the 36 month relief will apply where:
“(a) the individual is a disabled person or a long-term resident in a care home, and
(b) the individual does not have any other relevant right in relation to a private residence”
TaxRobin, Tax Consultant
Category: Tax
Satisfied Customers: 15042
Experience: International tax
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Customer: replied 2 years ago.

Sir, Thank you very much for your speedy response and reply to my supplementary question - much appreciated; better than HMRC themselves!!!

Expert:  TaxRobin replied 2 years ago.
You are most welcome.

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