12 January 2006
We act for an elderly widow. Before 17 March 1986, she gave half of her main house to her daughters. She has lived in it ever since without paying rent. Our client has a country cottage, too, but that, we think, is a red herring relative to our question, which is whether readers agree that the gifted half of the house will be outside of a charge to inheritance tax when our client dies.
We understand that if this is so, then the daughters might have a capital gains tax issue.
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