Reply To: Property ownership and HB/CTB

#9785
Anonymous
Guest

The District Valuer should put a value on your clt’s interest in the property, providing the LA1 is completed with all the relevant information. As a minimum you need to know whether they are joint tenants or tenants in common, which affects her right to sell her part of the property. The LA1 even allows him to value what the value would be if it was sold at auction (there is always a willing buyer)! This is actual capital, not notional capital, but beware if Mum is disabled or a pensioner as it will then fall to be disregarded. Incidentally it is an offence to fail to disclose interest in a property even if the clt believes that it doesn’t affect the claim. We have prosecuted under s112 – CPAG guide gives good advice in these cases.