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Our client purchased a residential property in July 1982 for £50,000. He lived there until June 1993 with his partner and a child of this relationship who was born in January 1991.
Our client married another woman later in 1993 and since then has lived in another property which is regarded as his only or main residence. The original property remained in his sole name and he has paid the mortgage up to the present date. No rent has been paid by his former partner.
The child of this relationship is now 16 and has moved in with our client and his family.
Our client purchased a residential property in July 1982 for £50 000. He lived there until June 1993 with his partner and a child of this relationship who was born in January 1991.
Our client married another woman later in 1993 and since then has lived in another property which is regarded as his only or main residence. The original property remained in his sole name and he has paid the mortgage up to the present date. No rent has been paid by his former partner.
The child of this relationship is now 16 and has moved in with our client and his family.
Our client now wishes to sell the property which is likely to realise in excess of £550 000. We believe that our client may be able to claim dependent relative relief for capital gains tax purposes on the sale of this property...
