Heads Up on new CGT regs for 2nd propeties

holly_hobby

PaulCooper wrote: »

Do you know if we change residency in March 2014, will we still fall under the rules of 36 months & not the 18 months if we change our main address in April.
Thanks again
Paul

Its any disposal of a 2nd property made AFTER April 2014 will be subject to the 18 mth final PRR exemption (along with full std PRR exemptions) - so changing residency in March 2014 or June 2014 won't have any effect on the scheduled reduction from 36mths to 18, if disposed post 6.4.2014.

Hope this helps
Holly

PaulCooper

Thanks
Crystal clear, it's the word 'disposal' that adds clarity to my somewhat clouded vision

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just me being a bit dim
Paul

John_Pierpoint

Am I right in thinking that the "we are all in it together" much trumpeted extension of CGT to "foreigners" property in the UK, starts in 2015 and only applies to gains accruing after that date?
Expect a rush of inflated property valuations in London the year after next?