This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our privacy notice.

Your word against HMRC’s!

Shared from Tax Insider: Your word against HMRC’s!
By Mark McLaughlin, June 2024

Mark McLaughlin warns of difficulties potentially faced by individuals seeking capital gains tax private residence relief with little or no evidence that the property was occupied as their only or main residence.  

Most individuals who own a house assume (or at least hope) that principal private residence (PPR) relief from capital gains tax will be available when they dispose of the property. 

Basic requirements 

PPR relief is subject to certain conditions. First and foremost, the dwelling must have been occupied as the individual’s only or main residence at some point during their period of ownership. This requirement might seem straightforward. However, it can sometimes be difficult to convince HM Revenue and Customs (HMRC) that the property was occupied as the individual’s only or main residence. 

It is not enough for someone merely to assert that

This is one of our 2599 Premium articles

To see this article in full and unlock access to our complete library of 2599 articles click 'subscribe & unlock' below:

Subscriptions include a 14 day free trial
+ money back satisfaction guarantee