by Rob Cadwallader, BJ Dixon Walsh.
THE Chancellor announced in the Autumn Statement that he is reducing from three years to 18 months the final period of exemption from capital gains available on any sale of a main residence.
This relief was designed to help those who needed to relocate but couldn’t sell their original property immediately.
More recently it was exploited by MPs amongst others who would ‘flip’ their main homes in order to qualify for the exemption.
This change may catch unawares those people who unable to sell their properties in the past have let the properties and so become accidental landlords.
In September HMRC announced a crackdown on residential landlords who have not declared income from their buy-to-let investments.
At BJ DixonWalsh we have a wealth of experience in helping buy-to-let investors. If you have any questions regarding buy-to-let or taxation, contact us for a free initial consultation.
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