Podcast Location:
Download it here [file size: 21.5 MB]
Categories:
Tax Law
CPD Points:
Up to 1 point. details »

Due to the difference in guidelines between the SRA and the Bar Standards Board, CPD points are awarded differently for Solicitors, Barristers and Legal Executives:

Regulated by the Solicitors Regulation Authority:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Regulated by the Bar Standards Board:
Listen and pass the quiz: Gain 1 accredited CPD point (60 minutes)

Regulated by ILEX:
Listen and pass the quiz: Gain 1 CPD point (60 minutes)
Listen only, gain ½ a CPD point (30 minutes)

Cost:
  • FREE
Length:
30 minutes of audio
(+ optional 5 minute online quiz)
Plays on Computer:
Yes Downloadable as MP3:    Yes
Contributor(s):
Course Aims:

This podcast aims to introduce listeners (or provide a refresher to well versed practitioners) to the principal private residence exemption (PPR). It will address the scope of the exemption and what tests must be met for a taxpayer to claim it. The podcast will discuss how the relief is calculated and how the relief applies where the house is not the taxpayer’s only residence, a shared residence or trust property.

Outcomes:
After completing the course you will:
  • Understand how principal private residence relief works;
  • Understand what tests must be met to qualify for relief;
  • Understand what counts as a ‘dwelling house’;
  • Be aware of the rules concerning how long a property must be occupied to qualify for relief;
  • Understand how the relief interacts where the taxpayer owns more than one property.
Level:
Complex Difficulty: 4 of 5
Classification:
Introduction
Legal Principles
Sources and References:
  • HMRC’s Capital Gains Tax Manual CG64200;
  • Taxation of Chargeable Gains Act 1992 Ss 222-225, 225A, 226A, 260;
  • Re Hequard (1889) 24 QBD 71;
  • London County Council v Cook (1905) 5 TC 173;
  • Makins v Elson (HM Inspector of Taxes) (1976) 51 TC 437;
  • Lewis v Lady Rook [1992] STC 171;
  • Longson v (Baker) HM Inspector of Taxes [2000] UKSC SPC00238;
  • Goodwin v Curtis (HMIT) [1996] STI 1290;
  • Jones v Wilcox (HMIT) [1996] STI 1349;
  • Lynch v Edmondson (HMIT) [1998] STI 968;
  • Sansom & Anor (Ridge Settlement Trustees) v Peay (HMIT) (1976) 52 TC1.
Tags:

This podcast introduces listeners to one of the most valuable exemptions from UK Capital Gains Tax; principle private residence relief. This podcast will look at how it works and the circumstances in which the relief can be claimed.

Podcast added: 12/08/10

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