mark vimto

Thanks Clive your input and taking the time to respond it's very much appreciated. ( I assume were registered as owners at land registry?) Yes unfortunately sounds like registering anything creates the problem. No beneficial interest what so ever, parents have lost money on interest payments on a mortgage. Parents are pensioners. So glad i dont have any children.

Hi Clive The increase in the value is due to my efforts and my investment not my parents. I have proof of full receipts and pictures. If the property was to be put back to a shell it would be worth 100k not 250k My parents will not gain anything. In fact they have paid interest on a mortgage on there existing house to enable me to get a foot on the ladder. I was unable to get a mortgage on a house in such a condition at the time. This is and has been my primary residence since 2010. So why can i not now buy the property for the original purchase amount. My parents are not gaining from the sale there are no proceeds. I have enabled this with my own money not theres.

Thanks but this is not helpful, With my own hands and time and my own money. Not my parents I increased the value of the property. So why should my parents be liable for Capital Gains tax they would not gain? In Fact they have lost interest on their initial investment. I stand to loose my home,I would appreciate more than 5 seconds response to advise if there is a route to appeal or if you take mitigating circumstances like this before i go down the route of purchasing the property and landing my parents with a CGT bill. It would be more cost effective for me to Demolish the extension and roof and interior to put the property back to its original value which would mean we wouldn't have to pay Capital Gains tax to buy the property, How daft is that ? Can you advise if i would need to present my case to a tribunal or do you have remedy for this type of scenario. Anyone mentally weaker than myself would look at ending it, cruel rules no wonder we have a housing problem in the UK.

Can you please help I need to purchase my home on a Concessionary mortgage. Because we do not know about tax rules at the time of purchase we are now seeking clarity on my Situation, Solicitors cannot advise, i need to know as this could potentially make me homeless i just cannot get a clear answer. Early in 2010 my Parents were able to buy a dilapidated un-mortgageable property for 100k in which to help there son (myself) to have a home. The house was seriously in need of full renovation new roof and extension.The full works, I completed the renovation with my own hands and also with the help of a building company to do the structural work and paid 40k for the renovation works and materials, for which I have receipts. The property is now roughly valued at 250k If i was to purchase the property at the original purchase price of 100k from my parents at todays date would my parents be liable for CGT ? Please can you tell me where i can get this answer clarified? Any help much appreciated this is very stress full