Home / Private Client / UK taxes for Private Client / Capital gains tax

Legal News

UT confirms FTT decision that taxpayers were entitled to private residence relief (HMRC v Gerald Lee and Sarah Lee)

Copyright © 2025 LexisNexis

Published on: 17 October 2023

Published by a LexisNexis Private Client expert

Table of contents

Why it matters
Case details

Article summary

Tax analysis: In Lee and another, the Upper Tribunal (UT) dismissed HMRC’s appeal against the First-tier Tax Tribunal’s (FTT) decision that a couple were entitled to full private residence relief on the sale of a house which they had constructed on land which they bought several years before moving in. The UT held that the ‘period of ownership’ for the purposes of the relief referred to the period of ownership of the house rather than the land.

Popular documents

Late payment penalties—inheritance tax

Late payment penalties—inheritance taxWhile interest often accrues on overdue tax, the late payment of certain taxes may also attract a penalty. For information on the interest accruing on overdue tax, see Practice Notes: IHT—payment deadlines on death—Interest on IHT and Interest on late paid

Where a property is owned jointly by an individual and their adult children, with none of them in

Where a property is owned jointly by an individual and their adult children, with none of them in occupation, is there a joint ownership discount applicable to reduce the CGT that may otherwise arise on a deemed disposal by the parent on gifting their share to their children?A discount of 10-15% is

What guidance is there—(a) on the valuation of royalty income for the purposes of inheritance tax, and

What guidance is there—(a) on the valuation of royalty income for the purposes of inheritance tax, and (b) on the distribution of royalties to an estate beneficiary?RoyaltiesA royalty is a payment made by one party to another, the owner of the asset, for the ongoing use of that asset.Royalties can

Pro forma CGT calculation for an individual

Pro forma CGT calculation for an individualCalculation for an individual (or trust or estate)Sale proceedsxxxxxxLess: Costs of salexxxxxOriginal cost of assetxxxxxCost of improvementsxxxxxTotal costsxxxxxx_______Gain: before loss reliefxxxxxxLess: Losses brought forward (if any)/Current Year