Many will be affected by the changes proposed to ancillary reliefs in Capital Gains Tax Private Residence Relief in April 2020.

This includes changes to the capital gains tax (CGT) relief on private residences (private residence relief).

The explanatory note on the government’s website provides:

‘These changes include reducing the final period exemption from 18 months to 9 months (whilst retaining the existing the 36 months that are available to disabled persons or those in a care home), reforming lettings relief so that it only applies in those cases where the owner of the property shares occupancy with a tenant and some minor technical changes to the PRR rules, including legislating two extra-statutory concessions (ESC)’.

For further information see: