Final period of ownership change for Principle Private Residence Relief
As the 31 January deadline approaches for the submission of 2014/15 Tax Returns it is worth a reminder about a change in the rules on Principle Private Residence Relief. In previous years, anyone absent from their home for the last 36 months of ownership was still granted full private residence relief on a disposal as this final period was ignored. Although the rule remains intact, the time period was reduced from 36 to 18 months with effect from 6 April 2014. Anyone who has sold their private residence relying on the old rules may want to consider whether a tax charge arises before they submit their Tax Return.
|
Date: 21st January, 2016 |
SHARE THIS
Articles from this Author
3rd May, 2018
Tax changes for non-resident corporate landlords
4th April, 2018
EMI options - a current risk
20th March, 2018
Beneficial loans
20th March, 2018
IR35 consultation
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
Tweet
Mercer & Hole partners attend INSOL Europe Annual Congress 2018 bit.ly/2yzSMKr @INSOLEurope… twitter.com/i/web/status/1…
Mercer & Hole take part in interoffice football tournament bit.ly/2RCusQZ pic.twitter.com/UH3IvRpFP6
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole
