Who is likely to be affected?
Individuals who own one or more residential properties that they have lived in as their main residence at any time.
What are the main changes?
This measure makes a number of changes to Capital Gains Tax, Principal Private Residence Relief (PPRR) where individuals have more than one residence.
Change 1 – Transfers between married couples.
Change 2 – The final period of ownership.
Change 3 – Lettings relief.
Change 4 – Need to report and pay tax.
When do they take effect?
Broadly the changes apply to transactions made after 6th April 2020.
For a full overview of these changes please click here.
If you think that any of the changes may apply to you, please get in touch as soon as possible to discuss possible planning opportunities. 0116 2423400 email@example.com