Lee Sharpe looks at a recent Scottish case, which may be of interest to those buying residential property of a certain scale across the UK.
Landlords and their advisers will be aware that dwellings with substantial gardens or grounds can prove problematic in terms of their tax treatment; are they merely part of the overall dwelling, or are they something else?
HMRC’s approach is quite different, depending on the nature of the tax charge at stake. This article looks at the position in more detail – and recent tax cases.
CGT and only or main residence relief
The relevant legislation (TCGA 1992, s 222) states that relief from capital gains tax (CGT) on the disposal of one’s only or main residence extends to the property’s garden or grounds, basically up to the &lsquo
