The article offers information on the Property Sales Campaign of the Her Majesty Revenue and Customs (HRMC) in Great Britain that aims to target people who have made profit on the sale of their second home but paid no capital gains tax.DaleSamuelMortgage Strategy (Online Edition)...
The tribunal ruled that although no minimum time applied for private residence relief on the sale of the home, the case did not show any signs they had made the property their home. Their appeal against a CGT assessment and penalties for not declaring the gain on tax returns was denied....
Finally, HMRC has clarified that “it does not follow that any land beyond the CGT ‘permitted area’ is not the ‘garden or grounds’” for SDLT purposes. Share Author ByAdam Corbin EVENTS Agriculture Roadshow 2025 Michelmores are looking forward to putting on another Agriculture Roadshow, betw...
CGT if and when the property is later sold or disposed of. So, if the property has increased in value when sold, CGT may be payable on the difference between the market value at the time of death and the sale price. Always consult a tax professional for specific advice regarding your ...