Upcoming CGT Changes
Relevant commentaries on Capital Gains Tax also include the upcoming changes to Private Residence Relief and Letting Relief. Also remember from April 2020 capital gains tax on the disposal of residential land is payable within 30 days of completion.
Private residence relief is available for the years the home was owner occupied plus the last 18 months, even if not occupied by the owner. This 18 month period is reducing to 9 months from April 2020.
Where part or all of the property has at some time in the period of ownership been let as residential accommodation letting relief is available. However from April 2020 letting relief will only be available where the owner is also living in the property.
Private residence relief is available for the years the home was owner occupied plus the last 18 months, even if not occupied by the owner. This 18 month period is reducing to 9 months from April 2020.
Where part or all of the property has at some time in the period of ownership been let as residential accommodation letting relief is available. However from April 2020 letting relief will only be available where the owner is also living in the property.
