Changes ahead for Private Residence Relief
As announced in the Autumn Statement, legislation will be introduced to reduce the final period of ownership of a property which qualifies for private residence relief from 36 months to 18 months.
A new relief will be introduced so that some disabled people and people moving into care homes will get final period exemption for the last 36 months.
The changes will come into effect from 6 April 2014.
If you are looking at disposing of a property, which you have previously lived in, please contact us on 024 7651 8555 or 0121 711 2468 to see how these changes will impact you.