Deemed periods for the purpose of claiming only or main residence relief
TA Hartland (TC4187)
Impending changes to capital gains relief for only or main residence
Does a written agreement constitute a trust and therefore allow a main residence exemption claim?
The government has scrapped plans to abolish the capital gains tax (CGT) main residence election.
Treasury officials intended to replace the measure with fact-based tests to decide which property would benefit from only or main residence relief, as part of proposals to implement a CGT charge on UK non-residents.
But a change of policy means a non-residents investing in UK residential property and UK residents investing in non-UK property will instead have to meet an occupation requirements.
The picture that emerges from cases of only or main residence relief
Will a delay in a declaration of trust mean a loss of main residence relief?
Main residence relief on properties built on unused business premises
The government has published an update to the consultation Implementing a Capital Gains Tax Charge on Non-Residents, covering the extension of capital gains tax (CGT) to non-resident individuals and close companies.
The consultation, launched in March, explained how pension funds and other diversely owned collective investment funds were not intended to be brought in scope of the extension of CGT to non-residents.
Can letting relief apply if main residence has been claimed on another property?
The tax consequences of a gift of a main residence annexe to the owners’ children
Dr S Iles and Dr D Kaltsas (TC3565)