THE COMMISSIONERS FOR HIS MAJESTY’S REVENUE AND CUSTOMS v (1) GERALD LEE (2) SARAH LEE [2023] UKUT 00242 (TCC)

Upper Tribunal Tax and Chancery decision of JUDGE SWAMI RAGHAVAN & JUDGE NICHOLAS ALEKSANDER on 29 September 2023

• From: HM Courts & Tribunals Service and Upper Tribunal (Tax and Chancery Chamber)
• Published: 9 October 2023

• Category: Tax
• Release date: 23 September 2023

Read full decision in HMRC v Gerald Lee and Sarah Lee UT-2022-000109 Final decison to parties

CAPITAL GAINS TAX – Private Residence Relief – taxpayers bought land demolished existing house and build new dwelling house which they lived in as main residence then sold for gain – meaning of “period of ownership” used in apportionment relief – held - ownership referred to that of new house as opposed to land as HMRC argued – HMRC’s appeal against FTT decision dismissed

Published 9 October 2023