SELFLESS PARENTS lending their children a helping hand to get onto the housing ladder could face a new stealth tax costing tens of thousands of pounds per property, reports today's Daily Telegraph.
Accountants and solicitors contacted by the daily warn these "unexpected" tax bills will arrive when people are least able to afford them - when the parents or grandparents who have helped young buyers with a deposit are themselves retired. Ian Luder, tax partner at accountants Grant Thornton, told the paper: "These government proposals will cause mayhem for hundreds of thousands of people. The fact that these new rules will be retrospectively implemented will wreak havoc. "With increasing life expectancy, it is likely the number of widowed or infirm elderly parents moving into their...
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