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.
  • Go back-and-forth until satisfied
    Rate the answer you receive.
Ask bigduckontax Your Own Question
bigduckontax, Accountant
Category: Tax
Satisfied Customers: 8480
Type Your Tax Question Here...
bigduckontax is online now

I want to know whether I can claim the downsizing addition

This answer was rated:

Hello, I want to know whether I can claim the downsizing addition to the normal IHT exemption if my mother dies having moved into rented property between exchange and completion of the sale of her only residence.
JA: Have you talked to a tax professional about this?
Customer: Yes a solicitor and she has said that we need to go to counsel. She says it is a grey area.
JA: Anything else you want the Accountant to know before I connect you?
Customer: No not really

Hello, I am one of the experts on Just Answer and pleased to be able to help you with your question.

Unfortunately no, as once contracts have been exchanged she is deemed to have sold the property.

Customer: replied 7 months ago.
But it states quite clearly on IR's website that you can claim a downsizing addition even if you have sold your property

I would like to talk to you, but from long experience I think it will be easier to ring me. I am on XXXXXXXXX and will be available from about 1830 hrs.

Customer: replied 7 months ago.
OK I will call you at 18.30 if thats OK
Many thanks Karen.
Customer: replied 7 months ago.
If you are available any sooner that would be much appreciated.

Sorry Karen, I am a diabetic, have taken my insulin so I must eat; dinner is due in 5 minutes.

Customer: replied 7 months ago.
Oh no problem
Customer: replied 7 months ago.
Hello,will you let me know when you are free to talk?
Many thanks
Customer: replied 7 months ago.
are you free now please?I don't want to disturb
Customer: replied 7 months ago.
Ok you are obviously off line even though it says you are on line as you are not responding to any of my messages.
I hope I will not be charged for a phone call which we haven't had.
Many thanks anyway.
I'll sign off now.

Sorry, you said , so I am waiting.ou were going to ring at 1830 hrs

bigduckontax and other Tax Specialists are ready to help you

I think we covered everything in the telephone call and came to the same conclusion.

Thank you for your support, Karen.

Customer: replied 7 months ago.
thank you too

Delighted to have been of assistance.