Historic Building Advisory Service

 
            Advice for the repair, conversion, restoration, conservation & renovation of historic buildings
 
 
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Frequently Asked Questions - Funding, VAT and insurance
 
Will my ancient farmhouse be free from inheritance tax?

Will my ancient farmhouse be free from inheritance tax?

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I have heard that I can place my house within a SIPP. Please can you clarify exactly what a SIPP is and advise me if it would be a good idea to place my house in it?

I have heard that I can place my house within a SIPP. Please can you clarify exactly what a SIPP is and advise me if it would be a good idea to place my house in it?

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My lovely 18th century cottage is in need of a full scale overhaul and I wondered if I would be able raise about £60,000 by taking out a mortgage on the property in order to fund the work. I don’t have a mortgage at present and the property must be worth about £450,000.

My lovely 18th century cottage is in need of a full scale overhaul and I wondered if I would be able raise about £60,000 by taking out a mortgage on the property in order to fund the work. I don’t have a mortgage at present and the property must be worth about £450,000.

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I have heard that if I opened my house to the public on one day every year that it would automatically become exempt from inheritance tax.  Is there any truth in this?

I have heard that if I opened my house to the public on one day every year that it would automatically become exempt from inheritance tax. Is there any truth in this?

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I have recently discovered that my home, which is listed, was extended by a previous owner who had not sought the necessary approvals. Is it possible that I might be forced to return the property to its original form? If so, can I make a claim for the costs of this remedial work against the previous owner?

I have recently discovered that my home, which is listed, was extended by a previous owner who had not sought the necessary approvals. Is it possible that I might be forced to return the property to its original form? If so, can I make a claim for the costs of this remedial work against the previous owner?

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I live in an old cottage with many original historical features.  Will it be adequately covered by a standard policy purchased online?

I live in an old cottage with many original historical features. Will it be adequately covered by a standard policy purchased online?

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Can replacement windows to a house built in 1865 be VAT-free as new work or do I have to pay the VAT?

Can replacement windows to a house built in 1865 be VAT-free as new work or do I have to pay the VAT?

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All FAQs in this section dealing with insurance or financial matters have been provided by CGA Insurance Services Ltd. CGA Insurance Services Ltd is authorised and regulated by the Financial Services Authority to advise and arrange general insurance contracts. All Investment business is handled by CGA Financial & Investment Services Ltd, authorised and regulated by the Financial Services Authority .Representing only the St. James’s Place Group for the purpose of advising on the Group’s investment management, risk management and banking products and services.

Every question received by HBAS and subsequently passed to the CGA will be answered as clearly and concisely as possible based on the information provided in the question. The answers given will be specific to the question posted, but should be regarded as generic in nature. The answers should not be deemed to be, nor do they constitute, specific financial or insurance advice. The CGA recommends that specific advice is sought prior to you making any decisions that affect financial or insurance matters.

 
 
 
 
 
 
© Historic Building Advisory Service 2010