826. Eligible property.

The relief given on the disposal of a private residence1 applies to a gain accruing to an individual so far as attributable to the disposal of:

  1.  

    (1)     a dwelling house which either is his only or main residence or has at any time in his period of ownership2 been his only or main3 residence; or

  2.  

    (2)     land which he has for his own occupation and enjoyment with that residence as its garden or grounds4 up to the permitted area5.

The expression the 'permitted area' means an area (inclusive of the site of the dwelling house) of 0.5 of a hectare6;