Daughter moved in with parents in 2021 to care for them. She previously rented.
Mum died approx 2 years ago, Dad died in Sept 2025 and now administering his estate (excepted estate).
House has to be sold as large equity release so no transfer to daughter.
RICS value £225K lower than marketing price.
Will the daughter’s occupation qualify for PRR? If not, I am considering submitting an IHT 400 as no IHT liab so HMRC agree the value. Or would, or should, we go through CG34 process?
I seem to recall this type of situation is covered if a benef receives certain % of the residue (daughter is sole benef) but can’t recall sufficiently to search if my thinking is correct.
You do not say what interest the daughter has or may be deemed to have in the dwelling house or how the ownership of it was transmitted through her parents’ estates. Presumably there will be a market value revaluation on the death of one or the other or both.
Subject to all that serious factual and legal uncertainty it is likely that she may be assisted by s.225A TCGA and CG65460.
The equity release scheme may impinge on all this but without details of just how no comment is possible.