I bought a property in 1988, and lived in it as my main residence until 2005. I became non-resident in 2005, and rented out the property with UK tax paid on rental income. I then sold a 54% interest to a family member, but retained principal residence status in 2012. The property was rented out and UK tax paid on rental income. I wish to sell the retained interest in future. Can I use apportionment back to 1988 when considering capital gains tax (CGT)?
Arthur Weller replies:
This question was first printed in Tax Insider in December 2017.