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My client has for some years owned a family home in the country where his wife and children live and where he spends weekends and a night or two each week. He also owns a flat in London, which is used as a base during the rest of the working week. Because he has no intention of ever selling the family home, and because the flat in London has increased in value far more than the house, he has elected under TCGA 1992, s 222(5) for the flat to be treated as his main residence.
My client has for some years owned a family home in the country where his wife and children live and where he spends weekends and a night or two each week. He also owns a flat in London which is used as a base during the rest of the working week. Because he has no intention of ever selling the family home and because the flat in London has increased in value far more than the house he has elected under TCGA 1992 s 222(5) for the flat to be treated as his main residence. I have now discovered that in March 2003 he purchased a cottage in northern France where the family spend as much time as they can during the school holidays — his wife and children are there for several weekends during the year and for most of the summer holidays ...
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
