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A nomadic life

Do some of your clients change dwelling house as though moving from one oasis to another? RICHARD CURTIS warns that tax relief can dry up suddenly


  • The valuable relief in TCGA 1992 s 222.
  • Residence must be more than a ‘stop-gap’.
  • Was there a degree of permanence and continuity?
  • Is there credible evidence of permanent residence?

Establishing that a property has been used as an only or main residence – even for a short period – can yield dividends in that not only is tax exemption under TCGA 1992 s 222 et seq. due for that period of residence but also for some periods of absence the last three years of ownership and – to some extent at least – for periods of letting.

Particularly during periods of rising property prices which we in the UK seem to regard as one...

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