Main Residence Relief 3rd ed
ISBN13: 9781912386239
Published: April 2020
Publisher: Claritax Books
Country of Publication: UK
Format: Paperback
Price: Out of print
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.
The complexities of the relief are examined in depth, including the meaning of residence, the concept of the dwelling-house, the question of gardens and grounds, lettings relief, elections between different residences, restrictions, marital breakdown, trusts and personal representatives, etc.
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
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