KEY POINTS
- Don’t overlook main residence relief’s little sister.
- A summary of the conditions of the relief.
- Main residence relief must be allowable to make a claim.
- Calculating the limits of the relief.
- Can the periods of relief exceed the period of ownership?
I do like a bit of only or main residence relief (OMR). Perhaps it’s because after four years of tax exams I would like to think I’ve got it straight in my head. Or maybe (and more likely) it’s because giving advice on property tax in general is ranked second only to inheritance tax in terms of how many free drinks I can secure from my friends down the pub on a Friday night.
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