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The pitfalls of home ownership

By: Language: English Series: Taxation ; 128(3337) 23 January 1992, 394-397(4)Publication details: 1992Subject(s): Summary: Profits made on private residential premises used for commercial purposes may be liable for capital gains tax. Tax relief is exercised under the Capital Gains Tax Act 1979 ss101-105, but the provisions exclude commercial gains. This article explains the legal complexities.

Profits made on private residential premises used for commercial purposes may be liable for capital gains tax. Tax relief is exercised under the Capital Gains Tax Act 1979 ss101-105, but the provisions exclude commercial gains. This article explains the legal complexities.