Principal Private Residence Relief (PPR) is a relief that enables homeowners to sell their homes without having to pay capital gains tax (CGT). However, in order to claim the relief, the property must be the main residence of the person selling the property.
It may come as no surprise to learn that HM Revenue & Customs (HMRC) have started writing to those taxpayers who may have incorrectly completed the property pages on their tax return specifically in relation to the amount of tax relief that can be obtained on residential property finance costs.
Further changes are coming…..
Pandemic or no pandemic, employer obligations remain. With the auto-enrolment (AE) compliance cycle still fairly new, what should you be doing now?
Perhaps you had space to branch out during lockdown: perhaps you need to advise a family member. What’s the position with tax?