Joe Brough highlights how the date of transfer of an interest in a main residence between spouses can affect the amount of capital gains tax principal private residence relief available.
Transfers of assets between spouses who are living together are treated as taking place at neither a gain nor a loss for capital gains tax (CGT) purposes under TCGA 1992, s 58.
Where the asset transferred is a property which at some point has also been occupied as the only or main residence of one of the couple, principal private residence (PPR) relief will need to be considered on its disposal.
Finance Act 2020 inserted new rules which apply for spousal transfers occurring pre and post-6 April 2020, which will need to be factored in when calculating the overall CGT payable.
Pre-6 April 2020 transfers
Where the transfer was made between spouses on or
