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About Us

Blythe & Co is the trading name of DWB Ltd Registered Office: 41 Oldfields Road, Sutton, Surrey, SM1 2NB  Registered in England & Wales Company number 04314627

Blythe & Co was established in 1990 and today, we continue to build on our enviable reputation for providing excellent advice and first class service to our business and personal clients alike.

Contact Details

Please Call Nikki on:

       0208 641 6666

Or email us at: 

       david@blytheandco.com

Blythe and Co Chartered Accountants, 41 Oldfields Road, Sutton, Surrey, SM1 2NB

Consultation on ancillary capital gains relief 

A capital gains tax exemption applies when an individual disposes of a dwelling used as their main residence.

A capital gains tax (CGT) exemption applies when an individual disposes of a dwelling that has been used as their only or main residence under the Private Residence Relief (PRR) rules. The exemption applies as long as the relevant conditions are met throughout the total period of ownership. This relief is supplemented by ancillary reliefs that aim to deal with other related situations.

 

The government has previously announced and legislated to reform two of the ancillary reliefs  to better target PRR at owner-occupiers. The reliefs which are being amended are:

  • the final period exemption will be reduced from 18 months to nine months, although the special rules that give those with a disability, and those in care, an exemption of 36 months will not change

  • lettings relief will be reformed so that it only applies where an owner is in shared occupancy with a tenant.

 

These changes will take effect from 6 April 2020. The government is now consulting on the changes in more detail and on how they will work in practice. It also invites views on some technical aspects of the PRR rules.

Internet link: GOV.UK consultation