Capital gains tax private residence relief- new restrictions added

October 31, 2018|In KRW Tax news|By Keith Witchell

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.

Keith Witchell