BenTender

Hi, I currently own 100% of our four bedroom family home, living with my wife and two adult children. I plan to give 75% of the property to my two adult children without consideration, retain the remaining 25% and continue to live in one of the four bedrooms. Ths children will pay 75% of the outgoings of the property. As this is my principal residence I believe there is no CGT to pay? If I survive 7 years from the date of the gift, would the gift be considered a gift with reservations and form part of my estate for IHT purposes? Thank you.

Hi, I am currently a UK tax resident and at present if I were to dispose of my principal residence it will be exempt from CGT (It was only ever used as my residence). The question is if I first leave the UK for tax purposes by serving form P85 and I dispose of the property after my departure from the UK for tax, can I still benefit from the Private Residence Relief or do I lose it once I am no longer a UK tax resident? Many thanks.

Hi, My former employer refused to make certain contractual payments due to me. I had to retain lawyers and after threatening litigation my former employer paid what he owed me. The receipts, being related to emplument, are subject to PAYE and NI. Can I somehow claim the out of pocket legal fees incurred in order to force the former employer to make the payments? Thank you.