MPs, second homes and CGT

As Ritchie says:

What none of them could seem to get was the fact that the last three years of occuptation of a property which has at any time been your main residence are a deemed period of capital gains tax free occupation.

But of course, as Ritchie also insists, making use of allowances specifically introduced into law by Parliament is abusing the tax system.

Isn\’t it?

3 thoughts on “MPs, second homes and CGT”

  1. And he still hasn’t got it: if we as taxpayers have paid for it, the asset belongs to us and the entire gain should accrue to us, not just the tax on the gain.

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