DaveSmith

The extra tax-free residence allowance is often cited for estates that have a home residence worth over GBP650,000 for a married couple but does the basic allowance have to be used first on the family home? I wondered about the following scenario, a couple have an investment property worth GBP650,000 at the time of death and a family home worth GBP350,000, can they utilise the joint basic allowance of GBP650,000 first on the investment property then the GBP350,00 will still be available if they leave this lesser valued family home to their children?

Hi , I just wanted to confirm that for section 8.3.4 People living in the premises whilst you carry out the work, that only either Rule 1 or Rule 2 needs to be satisfied and not both rules to qualify for the reduced VAT rate? In my case, I have owned a residential property for 2 years and never moved in or done any work on the property and therefore the renovation work can be undertaken any time at the reduced VAT rate even if I move in after work has started under Rule 1, and, I can ignore Rule 2? Thanks