From: "Derek F" 
Newsgroups: uk.finance
Subject: Capital gains tax on a long empty house.
Date: Wed, 7 Apr 2004 23:35:31 +0000 (UTC)

A friend bought a house for his parents in 1962. They lived in it rent free
until the last one died in 1990. Since then the house has not been lived in.
He believes a figure of £28K that it was valued at in 1982 is the basis of
valuation. It has now been valued at £130K and he has been offered that
amount by the person in a neighbouring house who wants it for a family
member. Can anyone help him to work out his Capital Gains liability. He has
been told something about dependant relative relief and that the three years
after his mothers death are also not taken into account.
Derek.