It was vacant.
Thanks.Provided the criteria for dependent relative relief as set out here were met as at 5 April 1988, then the relief can be claimed for the period from 31 March 1982 using the value of the property on that date as the cost to 2012 when I assume the property ceased to be occupied by the dependent relative. The gain for the last 18 months of ownership will also qualify for main residence relief. So, there may be a small proportion of the gain which is not exempt depending when the sale occurred.The fact that you may qualify for dependent relative relief on one property does not preclude you from claiming main residence relief on the property you lived in.Take a look at HS283 for more information on the main home and CGT. There is a section on dependent relative relief.I hope this helps but let me know if you have any further questions.
Thank you, ***** ***** helpful. So looking at the Nationwide property price information, the house was worth 25900 in March 1982. Given that, coupled with the dependent relative relief from 1982 to 2012, the disposal proceeds were 206,000, with cost of sales being £4715.40, what CGT should we be planning for?
December 2012, and it was sold two days ago.
Thanks. You say March 82 to December 12 is covered by main residence relief. Do you mean dependent relative relieve? The property was never been lived in my the owner, only by the dependent relative.