A valuable relief exists on the sale of the family home but in certain situations careful planning is required to ensure that the relief is obtained. If you live in the Kent area we, at JAD, can provide taxation advice to ensure that maximum opportunity is taken of principal private residence relief.
The main residence exemption continues to be one of the most valuable CGT reliefs. However the operation of the relief is not always straightforward nor is its availability a foregone conclusion. Advance planning can help enormously in identifying potential issues and maximising the available relief. If you live in the Kent area we, at JAD, can help with this. Please contact us if you have any questions about capital gains tax and the family home or would like specific advice relevant to your personal circumstances.