Forced sale of home and very short period of occupation did not disallow capital gains tax principal residence relief
During the financial downturn in 2008, a taxpayer had no option but to take out a buy-to-let mortgage to support his continued ownership of a property as no other type of finance was available to him. Contrary to the lender’s…
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Business owners denied entrepreneurs’ relief on technicality in HMRC v Michael and Elizabeth McQuillan
The Upper Tax Tribunal has agreed that HM Revenue & Customs was right to deny entrepreneurs’ relief to a pair of company owners, despite acknowledging that the outcome was unfair and the relief had been devised precisely for entrepreneurs like…
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