»Ê¹ÚÌåÓýapp

You may see a trust over a dwelling house which purports to be the only or main residence of minor children. Typically the family would have two residences. One is retained while one is transferred into a trust for the benefit of the minor children. »Ê¹ÚÌåÓýapp parentsâ€� main residence is said to be the residence they own directly. As the children do not have a legal interest in their parentsâ€� residence there is no need for the trustees to nominate the trust residence as the children’s main residence. »Ê¹ÚÌåÓýapp aim may be to use TCGA92/S225 to obtain private residence relief on both of the family residences. In these cases it is important to fully establish the facts. »Ê¹ÚÌåÓýapp children may not in fact have occupied the house as a residence. In cases involving minor children there may be some doubt as to whether they can live anywhere except by their parentsâ€� permission, and not therefore under the terms of any settlement.