Lee Sharpe notes that the tax tribunal does not necessarily share HMRC’s and the government’s zeal for bashing property owners.
Quite apart from the pandemic, 2020 was not a good year for property businesses, thanks to several measures introduced by the government, in its ongoing attempts to crack down on everyone’s favourite pantomime villain (landlords!):
- Various restrictions on the ancillary reliefs in the principal private residence relief (PPR) and capital gains tax (CGT) regime:
- Further reducing the ‘final period of deemed occupation as a residence’ for most owners to just nine months;
- Amending the rules for lettings relief (with retrospective effect) so most landlords will no longer benefit and will forfeit any lettings relief they thought they
