|Suitable for||Accountants, Tax advisers, Property lawyers|
Main Residence Relief
This detailed, clearly written guide to the familiar CGT relief offers fresh commentary on a topic that is familiar to many tax advisers but that contains numerous pitfalls for the unwary.
With full reference to appropriate legislation (including recent changes) and relevant case law, the principles are illustrated with real-life scenarios and planning points.
New for the third edition:
- Several new case law decisions re occupation (period of ownership, persuasive evidence, short periods of occupation, quality of occupation, renovation periods, dilapidated property).
- Case law re beneficial interests in a home.
- Court of Appeal ruling re when period of ownership begins.
- Case law re definition of "dwelling".
- Disposal by non-residents (FA 2019).
- Enactment of various extra statutory concessions.
- Job-related accommodation for members of the armed forces.
- Statutory changes re lettings relief, including interaction with "rent-a-room" relief / shared occupancy with tenants.
- Statutory changes re extension of election time limits.
- Statutory changes re disposals between spouses/civil partners.
- Statutory reduction re final period of ownership.