CGT and PPR .Not so much a question.

Relying on Solicitors

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When it comes to filing the 60 day CGT return on sale of residence;I have historically taken the view that we could rely on the Conveyancer to flag up potential reporting requirements.However having just sold my Mums house to fund Care Home fees;while the Solicitor wanted chapter and verse on my LPA authority,at no time was any potential CGT flag raised.Albeit that I knew she was within the CGT exemption period.They did not necessarily know that.It is interesting that one third of the occupants fees of my mum s care home are funded by the local council,and I wonder how much deprevation of assets has occurred.I think I read somewhere that there had not been one incidence of a council taking someone to Court over a deprevation of assets.

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By Hugo Fair
27th Jul 2022 10:38

Not sure as to what is the question for which you're seeking an answer! However:

* "I have historically taken the view that we could rely on the Conveyancer to flag up potential reporting requirements" ... you are kidding aren't you?
It would be 'nice' of a Conveyancer to do this, but it is not part of their remit and most (chosen on cost) do as little as possible.

* No idea where you "think I read somewhere that there had not been one incidence of a council taking someone to Court over a deprevation of assets" ... but if you try typing "deprivation of assets court cases" (note correct spelling) into Google you'll find that either you read wrong or have mis-remembered.

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Replying to Hugo Fair:
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By Michael Davies
28th Jul 2022 10:31

Bit busy yesterday,but tried to do some research on deprivation of assets.When asked under the FofI act the Office of Statistics refused to provide numbers on the basis it would be too time consuming.There was one case which a Council lost their case in the courts,on the basis that gifts the woman made out of capital were nothing out of the ordinary,and did not represent deprivation.

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Replying to Michael Davies:
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By Hugo Fair
28th Jul 2022 18:08

I'm sure there are cases where the Council has tried and lost ... but I was responding to your statement "I think I read somewhere that there had not been one incidence of a council taking someone to Court over a deprevation of assets".

If you take my suggestion for a Google search, you will find several cases where the Council were successful ... alongside, of course, a lot of advertising fluff from solicitors claiming to be able to win your case for you (as Google makes its money via advertising)!

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By Joe Alderson
27th Jul 2022 12:45

Best place for advice on tax related matters aside from SDLT is an accountant, not a conveyancing solicitor. They should know that there is a potential requirement there but it's not within the normal scope of their work and they could give bad advice.

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By Hometing
27th Jul 2022 12:50

Makes you wonder how many without tax advisers or accountants are unaware of the requirements.

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Replying to Hometing:
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By gainsborough
27th Jul 2022 13:10

The majority I imagine. I didn't see or hear any annoucements to the public.

Haven't come across any solicitors who mention the new reporting deadline, other than the usual caveat saying that they don't deal with tax advice.

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Ivor Windybottom
By Ivor Windybottom
27th Jul 2022 14:39

The OTS's third recommendation in their report (https://www.gov.uk/government/publications/ots-capital-gains-tax-review-...) was to mandate estate agents or conveyancers to alert sellers to the 60 day Returns.

As usual nothing happened when OTS makes a suggestion, despite this one actually seeming to be sensible and workable.

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By bernard michael
28th Jul 2022 09:57

Trying to be nice to the legal professions.
Perhaps the solicitors knew that there was no CGT and therefore didn't flag it up

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By K81
28th Jul 2022 12:18

in my experience solictors either tell everyone who sells a house/land to see an accountant re CG or they don't mention it at all, the latter being the most usual.

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