Capital gains tax private residence relief- new restrictions added
It was announced that, with effect from April 2020, the current extension of private residence relief to periods where a private residence is let out (known as ‘letting relief’) will only apply where the owner is in shared occupancy with the tenant. This represents a major change. In addition, the exemption for the final 18 months of ownership will be halved to the final 9 months of ownership.
For further advice on this matter, please contact me.
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