Capital Gains 'letting relief' and main residence
Alex Goracy introduced a case concerning a client, who inherited a property in 1995. Soon after acquisition the property was occupied by an aged relative rent-free. However, the relative was responsible for all repairs and utilities etc. until their death in 2001. The client then moved into the property until it was sold in 2007.
How strong is the proposition on behalf of the client that the occupation by the aged relative is within the 'lettings relief' provisions of section 223(4), TCGA 1992?
Peter Crowther considered that a 'letting' existed, which was clearly residential. As far as he is aware there is no qualification about income received, so the appropriate relief should be claimed. The tenancy might b...