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We are having to sell my mothers home to pay for her residential

Resolved Question:

We are having to sell my mother's home to pay for her residential care costs. Will she have to pay taxes on the monies we receive from the sale?
Submitted: 1 year ago.
Category: UK Tax
Expert:  Tony Tax replied 1 year ago.

Hi.

So long as the property has been your mother's main home for the entire period that she has owned it and it is sold within three years of her moving into residential care, then she will not have to pay Capital Gains Tax. Take a look at the HMRC helpsheet HS283 for more information.

I hope this helps but let me know if you have any further questions.

Tony Tax, Tax Consultant
Category: UK Tax
Satisfied Customers: 14147
Experience: Inc Tax, CGT, Corp Tax, IHT, VAT.
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