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LegalNinja, Solicitor
Category: Law
Satisfied Customers: 724
Experience:  Solicitor
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I own a flat which I lived in for 20 years which I let 6

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I own a flat which I lived in for 20 years which I let 6 months ago. I now live in a rented flat. For IHT I intend to leave my owned flat to my children. The current IHT tax free allowance is £150,000 per parent. I saw somewhere that is only for the main residence. What is defined as main residence and if I live in the rented flat , can I still claim the allowance
JA: What steps have you taken so far? Have you prepared or filed any paperwork?
Customer: no
JA: Where is the flat located?
Customer: Both are in Hendon London NW4
JA: Anything else you want the Lawyer to know before I connect you?
Customer: nO

Hi, thanks for your enquiry. Could you please confirm if you are single or married? Al

Customer: replied 6 months ago.
The IHT threshold is £325,000 and if you designate a property as the main property and leave this to your direct descendants in this case your children then the value of that property is not included in the IHT amount. If you have more than one property you can designate one to be your main property but this should be where you live. I hope this helps, if you can please accept my answer and rate me 5 stars (in the top right of your screen) then Just Answer will credit me for helping you today.
Customer: replied 6 months ago.
As I said earlier, i live in the rented flat. Can I still nominate my owned rented out flat as my main residence> Your answer is not clear


Yes, you can. It must be included in your estate (i.e. counted within the assets you owned directly, not via a trust) and you need to have lived in it at some stage in your life (which you have). You don't have to have lived in or owned the property for a minimum time – it can be any property you've lived in at some point.

I do hope this clarifies. Kindly confirm.



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LegalNinja, Solicitor
Category: Law
Satisfied Customers: 724
Experience: Solicitor
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I agree with the answer provided by the previous Expert. Kindly assist by rating their answer.

Many thanks