Wednesday, 15 August 2018

DAILY TAX TIP: Private Lettings Relief.

DAILY TAX TIP: 

Private Lettings Relief. If you sell an investment property that was at some point your main residence, and has been let out during your period of ownership, you can look to claim private lettings relief to reduce the amount of any gain that is subject to capital gains tax. The amount you can claim is the lowest of the amount of private residence relief, £40,000 and the amount of the gain that is chargeable by reason of the letting.