We think the current tax rules punish people for temporarily moving back into the family home to care for elderly parents, and that Inheritance Tax, Stamp Duty Tax & Capital Gains Tax on homes undercut the morals and fabric of our society.
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These taxes can make it difficult to care for our elderly and our young families, and we think it's time to change these rules.
If a person temporarily rents their own house to care for their parents, they could be subject to Capital Gains Tax. If you rent your property, you have to pay Income Tax on the rental income and a second lot of tax when you sell the property (Capital Gains Tax). Then you have to pay a third lot of tax when you buy a new property (Stamp Duty Tax) and a forth lot of tax when you die (Inheritance Tax). We think this is unfair.