He worked for the cost of the renovations so why not have them.? As it was his family home he may be in trouble with Capital Gains Tax which is charged on the 'profit' derived between the buying price and the selling price. A small allowance is tax free, but his problems may arise as he has had it so long and he would only be allowed to have taken it over by inheritance at market value, then.
However I am sure that Mr Winner has some clever accountants who may have converted the house into a company which would now be for sale. The company would be subjected to much less Corporation Tax as the base line would be the value when it came into the company's ownership and not when Winner inherited.
A company could have been formed last month. There for the difference between the 'buy' value and the 'sales' value would be covered by the company allowances. Winner could have sold it to the company and kept the money off shore or he could have gifted it for free. This can only be done once in any lifetime and is a good wheeze should a person be retiring from a business. Inheritance Tax is then avoided. The prospective inheritors just become Directors and on the death of the original owner, his/her name is deleted too.
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