Lam: main residence claim dismissed due to lack of evidence
In Lam v HMRC [2018] UKFTT 310 (TC) a main residence claim refused by the First-tier Tribunal (FTT) due to insufficient evidence.
This case involved an appeal by Mrs Lam against a £10 048 CGT assessment by HMRC for the 2013/14 tax year arising on the sale by Mrs Lam of Barnes Rise (the ‘property’). In her appeal Mrs Lam contended that main residence relief applied even though no election was ever made nominating the property as her main residence.
Mrs Lam purchased the property on 18 August 2011 for £265 000. It was sold following substantial renovation on 26 April 2013 for £410 000 realising a capital gain. Mrs Lam claimed the gain was exempt by virtue of the principal private residence relief provisions pursuant to TCGA 1992...
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Lam: main residence claim dismissed due to lack of evidence
In Lam v HMRC [2018] UKFTT 310 (TC) a main residence claim refused by the First-tier Tribunal (FTT) due to insufficient evidence.
This case involved an appeal by Mrs Lam against a £10 048 CGT assessment by HMRC for the 2013/14 tax year arising on the sale by Mrs Lam of Barnes Rise (the ‘property’). In her appeal Mrs Lam contended that main residence relief applied even though no election was ever made nominating the property as her main residence.
Mrs Lam purchased the property on 18 August 2011 for £265 000. It was sold following substantial renovation on 26 April 2013 for £410 000 realising a capital gain. Mrs Lam claimed the gain was exempt by virtue of the principal private residence relief provisions pursuant to TCGA 1992...
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