.png)
.png)
A good plot
Key points
- Only or main residence relief may relieve gains from a tax liability.
- Generally the relief is restricted to a plot of half a hectare.
- Larger areas may be eligible if they are required for the reasonable enjoyment of the property.
- In the Phillips case the property was redeveloped and the house resold on a smaller plot.
- Comparisons must be made with similar properties in the locality.
- Has the character of the property been changed so that expectation of garden size has also changed?
In ‘Virtually there’ (Taxation 10 December 2020 page 16) we discussed our recent experience in the processes involved in preparing for and representing appellants at a First-tier Tribunal hearing. We now examine the facts and technical points of the case itself which may be of particular interest to advisers whose client base includes wealthy individuals who own properties with...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
