Pro-Taxman

Private residence relief

Separation or Divorce

Tax implications you should know about when you are in the unfortunate situation of Separation or Divorce

Separation, divorce, and private residence relief Where a couple separate or divorce, one party may move out of the matrimonial home, with the other party buying them out. This could have capital gains tax implications. While a couple are married and in a civil partnership and living together, they can transfer assets between them at …

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Multiple Houses

More than one home? Check which one qualifies for private residence relief

Private residence relief removes the charge to capital gains tax on the taxpayer’s only or main residence. For the purposes of the relief, a taxpayer can generally only have one residence qualifying for the relief at any one time, subject to the final period exemption for properties which have been the only or main residence …

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If you’ve read anything about property and tax, you’ll probably have heard the terms ‘nominating your main residence’ and ‘flipping’. This blog takes you exactly what these terms mean and how and when they apply.

Private residence relief shelters a gain on the sale of a residence from capital gains tax while the property has been the owner’s only or main residence. Where a property has been an only or main residence at some point, the final period of ownership (currently 18 months but reducing to nine months from 6 …

If you’ve read anything about property and tax, you’ll probably have heard the terms ‘nominating your main residence’ and ‘flipping’. This blog takes you exactly what these terms mean and how and when they apply. Read More »