Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Jigsaw puzzle blues

04 November 2014 / Richard Curtis
Issue: 4476 / Categories: Comment & Analysis , Capital Gains , Only or main residence
curtis_2

The picture that emerges from cases of only or main residence relief

KEY POINTS

  • Only or main residence relief is probably the most valuable tax relief for the majority of taxpayers.
  • Tribunal cases can illustrate the limits of the relief.
  • There must be evidence of permanence and continuity of residence.
  • The importance of compelling evidence.
  • Intention to occupy on its own is insufficient to succeed in a claim under TCGA 1992 s 222.

The Readers’ Forum of Taxation cover a wide variety of subjects. One common thread is queries on the application of the capital gains tax only or main residence exemption.

Obsessed as we appear to be in the UK with property and property prices such questions crop up continually. Instead of struggling against the current perhaps it therefore makes sense to go with the flow and...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

back to top icon