How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Harris Your Own Question
Harris, Law Specialist
Category: Law
Satisfied Customers: 2851
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
Type Your Law Question Here...
Harris is online now

We married just over a year ago after living together in s

This answer was rated:

We married just over a year ago after living together in his house for over 25 years (property in his name). In his will the house comes to me as his wife. Eventually I will need to sell the house and garden (1 hectar) with planning permission for two plots already in place. Inheritance Tax will not be due but what is the best way to avoid CGT?

Hi, thank you for your question. For clarity is there only one property which you are still living in as the matrimonial home?

Customer: replied 1 year ago.
One house set in two acres of garden. The garden is used wholly as a garden but in the bottom part we have planning permission for two 5 bedroom houses onto an adopted road.
Customer: replied 1 year ago.
My husband has owned the house or 45 years, I have lived here for 25 years but we only married in January, 2015. I know that the fact he willed the house to me does not incur IT but have been told CGT could be liable should I sell the house and the building plots although have been advised to sell the building plots first then the house last.

Thanks for confirming. Given the size of the land you will be liable for CGT on the sale of the home and the land however you will be entitled to some Private Residence Relief which will bring down the CGT liability.

I hope this assists you. If you found this information helpful please provide a positive rating using the stars at the top of this page. I will not be credited for your question without a positive rating. Thank you

Harris and other Law Specialists are ready to help you
Customer: replied 1 year ago.
I am not sure this is absolutely correct having spoken now to an Accountant.