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P Gibson (TC3021)
The taxpayer bought a property in February 2003. He demolished it and built a new house which he sold in early 2006. He did not include the gain on the disposal of the property in his 2005/06 tax return on the basis only or main residence relief was due under TCGA 1992 s 222.
HMRC did not agree the gain was exempt and assessed it to capital gains tax. The department agreed that the old house had been the taxpayer’s main residence but it had been knocked down and the he had never lived in the new property on which no relief was due.
The taxpayer appealed.
The First-tier Tribunal – which comprised two members – was split in its opinion but agreed the facts of the case were unusual.
The judge considered that the ordinary meaning of “dwelling house” referred to the building ...
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