Tucked this back here as I can't find our usual thread.
I hope you're recovering from the weekend okay? I'm having a bit of a rough time sadly.
Yes, all to do with that bloody house as per. I know you sick of all this so sorry in advance.
After talking to my accountant It looks like because I've left it so long to sell the house that whenever I go to probate and sell it off I'll be stuck with paying capital gains tax on it at a whopping 28%! Also It turns out If you don't sort out an estate within 4 years when you do sell it you are not allowed any capital gains tax allowances and have to pay the full amount. :(
The only way around that is to go and live in the place for a few years would you believe to make out it's your main home, which yes is what I was intending to do, but I've since been reading up on probate law and I'm getting dead concerned about having to break the law when it comes to transferring Mums accounts/shares over to me. All she has apart from the house is £500 worth of Santander shares (that equates to 100 shares which are now frozen due to me letting slip she had died) and £1500 in a locked down Santander saving account that I used to pay for her funeral and which is now frozen, so apart from the house all very meager.
When it comes to the shares and the account you have to sign an indemnity waver which clearly sates you'd be committing fraud If you lie about the size of her estate even though this form covers the banks arses if it turns out you've been lying. Yes I would have no problem transferring such small amounts over to me, but when this ever comes to light in the future I'd be truly fucked. It would be proper fraud, but then If I obtain it now I risk having my DWP 'issues' being discovered.
I'm afraid I'm going to have to talk a little about it with you tonight. Sorry, but I have nobody else. :(
I've turned off email comments as per.
Oh and it looks like I may have found you a site where you can view Warehouse 13. :)
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branchandroot
no subject
Date: 2013-04-18 12:55 pm (UTC)I hope you're recovering from the weekend okay? I'm having a bit of a rough time sadly.
Yes, all to do with that bloody house as per. I know you sick of all this so sorry in advance.
After talking to my accountant It looks like because I've left it so long to sell the house that whenever I go to probate and sell it off I'll be stuck with paying capital gains tax on it at a whopping 28%! Also It turns out If you don't sort out an estate within 4 years when you do sell it you are not allowed any capital gains tax allowances and have to pay the full amount. :(
The only way around that is to go and live in the place for a few years would you believe to make out it's your main home, which yes is what I was intending to do, but I've since been reading up on probate law and I'm getting dead concerned about having to break the law when it comes to transferring Mums accounts/shares over to me. All she has apart from the house is £500 worth of Santander shares (that equates to 100 shares which are now frozen due to me letting slip she had died) and £1500 in a locked down Santander saving account that I used to pay for her funeral and which is now frozen, so apart from the house all very meager.
When it comes to the shares and the account you have to sign an indemnity waver which clearly sates you'd be committing fraud If you lie about the size of her estate even though this form covers the banks arses if it turns out you've been lying. Yes I would have no problem transferring such small amounts over to me, but when this ever comes to light in the future I'd be truly fucked. It would be proper fraud, but then If I obtain it now I risk having my DWP 'issues' being discovered.
I'm afraid I'm going to have to talk a little about it with you tonight. Sorry, but I have nobody else. :(
I've turned off email comments as per.
Oh and it looks like I may have found you a site where you can view Warehouse 13. :)