16:29 PM, 10th May 2021, About 2 years ago 23
My wife has a part-time job earning 12,000. Her mother signed over her house in 2002 giving half to my wife’s sister and half to my wife.
My wife’s mother died in February, and they decided to sell the house. My wife’s mother was living there all the time apart from the last six months she moved into my wife’s sisters house, and she died at that house. My wife’s sister was their mothers registered carer and did not have a job.
The property is valued at £1.8 million.
For the last six months we were rewiring and insulating all external walls with 70 mm insulation to bring the property up to a lettable state because it has had no building work or anything done to it for 50 years.
Has anyone got any tips on things we can do to reduce the capital gains we would have to pay?