Forty years on...
Language: English Series: Taxation ; 155(4024) 8 September 2005, 632-633(2)Publication details: 2005Subject(s): Summary: Highlights some tax planning points pertaining to Capital Gains Tax main residence relief. Only or main residence relief has been around for 40 years and is now embodied in the Capital Gains Tax Act 1992 ss222 et seq. Seeks to clarify some common misconceptions in particular with regard to the so-called election by means of which a tax payer can determine which of his residences will qualify for relief. Advises that any individual with more than one residence should in nearly all cases submit a s222(5) notice to determine which is his main residence and that taxpayers should make elections within the two year period limit on retrospection.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Journal article | London Journal article | L131230 (Browse shelf(Opens below)) | 1 | Available | 131230-1001 |
Highlights some tax planning points pertaining to Capital Gains Tax main residence relief. Only or main residence relief has been around for 40 years and is now embodied in the Capital Gains Tax Act 1992 ss222 et seq. Seeks to clarify some common misconceptions in particular with regard to the so-called election by means of which a tax payer can determine which of his residences will qualify for relief. Advises that any individual with more than one residence should in nearly all cases submit a s222(5) notice to determine which is his main residence and that taxpayers should make elections within the two year period limit on retrospection.