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Posted Tue, 09 Aug 2022 10:40:55 GMT by Neal Partridge
Hello, I'd be grateful for some advice. I'm building an extension to my home for my elderly parents to live in. They are paying for the extension. Will I incur any tax liabilities? Will I be liable to anyone else in the will ? Thank you.
Posted Wed, 10 Aug 2022 07:20:52 GMT by HMRC Admin 17

Using a loan to build an extension has no income tax consequences.

For information re:  potential inheritance tax implications, please call the number below: 

0300 123 1072                                              

Inheritance Tax: general enquiries    .

Thank you.

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