Have been trying to find this out but it's difficult trying to prove a negative. Under the proposals for the alteration to a New CGT system, we're losing indexation, taper relief and BATR, but I can't find anything to say that Lettings Relief is going (the up to £40K relief if a house you've owned had been let at some stage).
I've always felt it was a stupidly generous relief. Contrast the CGT position of someone who has a buy-to-let for 5 years with someone who moves into the house for a short period at some stage in the 5 years. 3 years of exemption + £40K Lettings Relief. One but not the other always seemed to make more sense.
But although it should have been axed in fairness but I can't find anything to say this. That implies that it will still be there for 2008/09 but has anyone seen that confirmed in words of one syllable?
Geoff Challinger
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It has not been axed
PPR relief remains & it is an extension of that.
As proposed only taper & indexation go in the simplifcation