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The taxpayer bought a property in 2003 with the aim of renovating it and using it as his main residence.
He moved his possessions into the house but spent most of his time at his sister’s home because she was ill. She died later that year causing the taxpayer to lose heart in renovating his property; it was sold in 2004.
HMRC did not allow him only or main residence relief under TCGA 1992 s 222 on the gain. The taxpayer appealed.
At the First-tier Tribunal the taxpayer said his intention had always been to live in the property. He had never wished to trade in property but after his sister’s death he lost interest in living in the house.
However the taxpayer has since established a property...
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