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Where Taxpayers and Advisers Meet

CGT One Year Rule, I am in Shock.

Posts: 381
Joined: Mon Feb 13, 2017 10:09 am

Re: CGT One Year Rule, I am in Shock.

Postby someone » Tue Aug 06, 2019 12:08 pm

The UTT decided that the FTT had erred in law and decided that ordinary property letting:

Is not a trading activity - Griffiths v Jackson; Grifiths v Pearmain 56 TC 583.

I think this means that S152 et al do not apply.

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Location: Operate Nationally but based in Aberdeen

Re: CGT One Year Rule, I am in Shock.

Postby wamstax » Tue Aug 06, 2019 1:44 pm

Read here and unfortunately apart from FURNISHED HOLIDAY LETTING the simple letting of domestic property is not a trade and therefore you are not a trader ( in relation to the simple letting) and you cannot get S152 deferral relief

regards and hope this helps
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and email and phone contact can be obtained from website

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Location: West Sussex

Re: CGT One Year Rule, I am in Shock.

Postby pawncob » Tue Aug 06, 2019 3:50 pm

That relates to business assets. Your property doesn't qualify.
With a pinch of salt take what I say, but don't exceed your RDA

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