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  • FIRST POST
    • MontyA
    • By MontyA 17th May 17, 10:15 PM
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    MontyA
    Father in care/ selling home
    • #1
    • 17th May 17, 10:15 PM
    Father in care/ selling home 17th May 17 at 10:15 PM
    Can anyone help?
    Father was widowed in 1998, all estate passed to him.
    Assets/ Estate not worth over 425k but he's in a care home and using savings etc to pay for care.
    Children are looking at selling his home to continue to pay care costs.

    If there is no home then my understanding is that IHT payable on over 325k - but as mother did not use her "nil" rate can it be more?
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    • xylophone
    • By xylophone 17th May 17, 11:57 PM
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    xylophone
    • #2
    • 17th May 17, 11:57 PM
    • #2
    • 17th May 17, 11:57 PM
    http://www.pruadviser.co.uk/content/knowledge/technical-centre/transferable_nil_rate_band/

    https://www.gov.uk/government/publications/inheritance-tax-main-residence-nil-rate-band-and-the-existing-nil-rate-band/inheritance-tax-main-residence-nil-rate-band-and-the-existing-nil-rate-band
    • Keep pedalling
    • By Keep pedalling 18th May 17, 12:30 AM
    • 3,756 Posts
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    Keep pedalling
    • #3
    • 18th May 17, 12:30 AM
    • #3
    • 18th May 17, 12:30 AM
    Her nil rate band will be transferable, and he still retains the primary residence nil rate band when selling to move into care, so there will be no IHT liability.

    Main current issue will be whether you have POA to enable you to sell the house.
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