RNRB & Downsizing Relief - Technical Question
I've got a client who owns a property worth £1.25 mil. She is 82 years old and in relatively good health. She has cash/investments of £460,240.
She intends to sell the property to her daughter at market rate and use the proceeds to:
1) convert the garage to a Granny Annexe for her to live in
2) make gifts to her other children
3) invest in BR products
She IS NOT buying another property and she IS NOT going into care.
We've been debating it in the office and are split pretty much 50%/50% on whether of not she will qualify for downsizing relief... the internet is also providing contradictory answers.
Wondered if anyone had come across similar or had contact info for someone that specialises in this area that I can have a chat to?