Monday, Jun 21, 2010
Black economy clampdown coming
BBC News: BTL tax warning
This will please some people here!
Posted by chrisch @ 11:20 AM (964 views) Add Comment
2 Comments
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1. righttoleech said...
about time too
2. doomwatch said...
All in favour of this if the HMRC can actually provide a solid definition of what actually is a "main home" or a "second home" instead
of the current and very fluid and subjective ones, which suprisingly result in the HMRC grabbing money. The rules are [intentionally?] VERY grey, as opposed to the simplistic picture this article creates.
In fact the piece form the article:
"The profit made on selling a property is liable to CGT unless it is someone's main home at the time of the sale, or was their main home at any time in the three years before."
is totally wrong.