In J & Mrs S Regan v HMRC (TC02246 – 26 September) a married couple purchased a house in May 2000. In February 2003 they agreed to sell that house to a company which intended to demolish it to make way for a new access road. They purchased the house next door (No 93) which needed complete modernisation. They installed a new bathroom and kitchen and moved into No 93 in June 2003. They lived there until May 2004 when they moved into another house in the same town. They subsequently added an extension to No 93 and in 2006 they sold it. HMRC issued an assessment charging CGT on their gain on the sale. The First-tier Tribunal allowed the couple’s appeal finding that they had occupied No 93 as their principal private residence. (An appeal by the husband...
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In J & Mrs S Regan v HMRC (TC02246 – 26 September) a married couple purchased a house in May 2000. In February 2003 they agreed to sell that house to a company which intended to demolish it to make way for a new access road. They purchased the house next door (No 93) which needed complete modernisation. They installed a new bathroom and kitchen and moved into No 93 in June 2003. They lived there until May 2004 when they moved into another house in the same town. They subsequently added an extension to No 93 and in 2006 they sold it. HMRC issued an assessment charging CGT on their gain on the sale. The First-tier Tribunal allowed the couple’s appeal finding that they had occupied No 93 as their principal private residence. (An appeal by the husband...
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