Mark McLaughlin highlights a potential restriction in capital gains tax private residence relief in common circumstances.
Most homeowners will be aware that if they buy a house and live in it as their only or main residence throughout their period of ownership, there should be no capital gains tax (CGT) to pay when they sell the property, due to principal private residence (PPR) relief.
The concept of PPR relief is straightforward enough. Unfortunately, circumstances can result in the relief being restricted (or denied). For example, there may be a delay between an individual acquiring a dwelling and occupying it as their only or main residence.
Short delays: HMRC’s concession
However, in some cases, HMRC will treat short delays by the owner-occupier when moving in as a period of occupation for PPR relief purposes (Concession D49). Those circumstances are broadly where the residence
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