Lee Sharpe looks at a tax case that went horribly wrong for the taxpayer and has implications for others who sell garden plots out of their main residence.
After the recent death of Charlie Watts, reading the case Whyte v HMRC  UKFTT 0270 (TC) put me in mind of one of the Rolling Stones’ best tracks*. The case is 135 pages long, making me wonder if someone had nothing better to do during the pandemic. But apparently the bundle of evidence papers given to the tribunal was around 3,000 pages, so maybe he was just sharing the pain.
The case involves the sale of six housing plots out of the grounds of a substantial main residence. It may interest many homeowners who might hope one day to exploit the capital gains tax (CGT) relief potentially available, as part of ‘only or main residence relief’ (otherwise known as ‘principal private