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CGT on residential property

The long-established rule which allows an exemption from capital gains tax after a property ceases to be an individual’s main residence for the last 36 months of ownership is being changed.  The final period exemption is being halved to 18 months.

The change will apply to disposals after 6 April 2014, subject to a small exception for those who leave their property to go into long term care.  As part of the anti-avoidance provisions, the 18 month period will also apply where the sale contract is agreed before 6 April 2014 but is not completed until after 6 April 2015.



Date: 5th March, 2014
Author: Cathy Corns


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