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22 September 2015
Entitlement to only or main residence relief on a jointly-owned property.
My client lives in a largish terraced property. For convenience let us say that the address is 3 Railway Cuttings. The property next door – 5 Railway Cuttings – is for sale. My client does not wish to move from the area and access to local schools but with some young children he has always wanted a larger garden. The couple at 7 Railway Cuttings – on the other side of the vacant property – would like some more space for the husband’s elderly father who can no longer live on his own.
My client and his close neighbour plan to buy number 5 in their joint names. Their plan is that my client will have use of the ground floor and garden while the neighbour will have the first floor and attic space. They make doorways or openings from...
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