Only or main residence

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CGT and private residence relief

HMRC have changed their view on the entitlement to capital gains tax letting relief under TCGA 1992, s 223(4) where a private residence was occupied by a dependent relative before 6 April 1988.
Previously, HMRC were of the opinion that relief under s 223(4) would not be available where only or main residence relief is due on a residence occupied by a dependent relative. HMRC now consider that lettings relief may be due. CG64718 will be amended to reflect this change of view and CG65562 will be withdrawn.

… but for the memories (and the tax advice!). STEPHANIE CHURCHILL looks at some of the issues surrounding the family home and a divorce.

It is important to be sure of your ground in relation to company residence, says JIM WILSON.

Only or main residence is a wonderful relief, but a complex one, especially if you are married or in a civil partnership, says AILEEN DEENEY.

RICHARD CURTIS and DANIEL BLAKE consider the main residence 'permitted area' exemption.

Identifiying a person's only or main residence for capital gains tax purposes

MALCOLM GUNN FTII, TEP of Squire, Sanders & Dempsey looks at the forthcoming changes to the tax provisions relating to trusts.

JOHN HIDDLESTON discusses the meaning and significance of curtilage for capital gains tax only or main residence relief purposes.

RICHARD CURTIS considers some ingredients of property taxation.

PAULA TALLON runs through tidying up a company's affairs in preparation for a sale.

DAVID JEFFERY highlights some planning points pertaining to capital gains tax main residence relief.

CAPITAL GAINS TAX has been with us for forty years and so has the only or main residence relief of what is now TCGA 1992, s 222, et seq. Of course, it is a commonplace and in most cases a straightforward relief; nevertheless, in practice there are borderline cases and opportunities for effective planning.

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