Capital gains tax: private residence relief, Finance Bill 2019-21, clause 23, ICAEW REP 15/20, 20th April 2020

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In Folder: ICAEW Representations, 2020

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Capital gains tax: private residence relief, Finance Bill 2019-21, clause 23, ICAEW REP 15/20, 20th April 2020

Briefing submitted on 20 April 2020 by the ICAEW Tax Faculty for MPs on Finance Bill 2019-21 clause 23 concerning capital gains tax private residence relief; outlines measures to shorten the final exempt period to nine months, reform lettings relief to require co-occupation, and legislate certain extra-statutory concessions; raises concerns about retrospection and market conditions; recommends delaying commencement until 6 April 2021, providing an election to use an actual valuation at the start of the final nine months and allowing extensions, preserving lettings relief accrued under current rules, and simplifying nominations where there are two or more residences. (AI generated description)

Dublin Core Metadata

title: Capital gains tax: private residence relief, Finance Bill 2019-21, clause 23, ICAEW REP 15/20, 20th April 2020

creator: Tax Faculty

creator: ICAEW

subject: Taxation

subject: CGT

subject: Property taxation

subject: Main residence

subject: Coronavirus

subject: Business operations

description: Briefing submitted on 20 April 2020 by the ICAEW Tax Faculty for MPs on Finance Bill 2019-21 clause 23 concerning capital gains tax private residence relief; outlines measures to shorten the final exempt period to nine months, reform lettings relief to require co-occupation, and legislate certain extra-statutory concessions; raises concerns about retrospection and market conditions; recommends delaying commencement until 6 April 2021, providing an election to use an actual valuation at the start of the final nine months and allowing extensions, preserving lettings relief accrued under current rules, and simplifying nominations where there are two or more residences. (AI generated description)

publisher: ICAEW

date: 2020-04-20

type: Text

format: pdf

identifier: ICAEW REP 15/20

language: en

relation: ICAEW Representation

ICAEW Metadata

Content Type: Representation

Notes: MEP NK

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