Changes to CGT property reliefs under fire

Government plans to change the capital gains tax (CGT) relief regime on private residences by halving the period for main residence exemption have been heavily criticised for displaying inconsistencies with the rules on stamp duty land tax (SDLT), and for a lack of  communication to those affected.

Finance Bill 2019-20 confirmed a tightening of private residence relief (PRR), reducing the final period exemption from 18 months to nine months. 

Read more at the Accountancy Daily.