You may already know that paying for care home fees is subject to means-testing however did you know that the home can be disregarded from the test if it is still occupied by the husband or wife?
But what happens when the husband or wife is no longer living there? Say, for example, they too go into care or they may die. It is likely that the property would have been held by the couple as ‘joint tenants’ meaning that, on death, it would pass to the survivor of the marriage
How Long Must I Own My Home to Avoid Paying Capital Gains Tax ?
The purchase, renovation, and sale of a distressed property can potentially yield substantial financial gains. Nevertheless, the prospect of a sizable Capital Gains Tax (CGT) burden may cast a shadow on this otherwise promising undertaking.
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