An­gela Brown

Macclesfield Express - - SPORT - IN­HER­I­TANCE TAX SNAG

Daniels LLP So­lic­i­tors WE would like to give our house to one of our two sons and buy a sec­ond house for the other. We are in our 60s. What are the im­pli­ca­tions as re­gards in­her­i­tance tax? IF you are plan­ning to carry on liv­ing in your home af­ter you have signed it over to your son the tax­man is likely to re­gard it as a gift with ‘reser­va­tion of ben­e­fit’ and levy in­her­i­tance tax, if ap­pli­ca­ble, in any event. You would be wellad­vised to dis­cuss your plans in de­tail with a so­lic­i­tor spe­cial­is­ing in tax and trusts. You should cer­tainly take ad­vice be­fore giv­ing your home away, since if the owner was to die, get di­vorced or be made bank­rupt you could find your­selves home­less.

ROOT OF THE PROB­LEM

I LIVE in a pri­vate house. A tree owned by the coun­cil at the front of the prop­erty is caus­ing I TAKE it you be­lieve the tree’s roots are caus­ing dam­age to the front of your prop­erty, but with­out a sur­veyor’s re­port you won’t be able to con­firm this is the case. If you have build­ings in­surance – and you prob­a­bly have if you’ve taken out a mort­gage – you should put in a claim to your in­sur­ers who will then send some­one out to in­spect the dam­age. It will then be up to the in­sur­ers to at­tempt to re­cover the cost of any re­pairs. But it’s un­likely that the tree owner will be held re­spon­si­ble un­less they were warned about the po­ten­tial dam­age. THE fit­ter who in­stalled

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