Restriction of PPR

Restriction of PPR If part of your home is let it will not affect your exemption from capital gains tax, providing the ‘rent a room’ scheme applies. HMRC publication IR87 page 9 states: “The private residence relief is not affected if you have a lodger who is treated as a member of your family, sharing…

EIS Schemes

EIS-schemes You can invest in a company wholly owned by yourself, providing it is engaged in a qualifying trade The Tax Relief An individual with no more than a 30% interest in the company can reduce his income tax liability by an amount equal to 20% of his share subscription. The minimum subscription is £500…

Personal Private Residence

Adopting a property as a personal private residence Lets start by saying this is a complicated area! A Principal Private residence is CGT-free only IF two conditions are fulfilled :- 1. the property must not have been purchased for the sole reason of making a profit and 2. that to be exempt the property (dwelling…