Private Residence Relief

As thoughts turn to the 31 January 2016 SA tax return deadline, I would like to take this opportunity to remind you that, from the tax year 2014/15 onwards, there are changes to Private Residence Relief.

If your clients have disposed of residential property, on which they wish to claim Private Residence Relief, they need to be aware of the amendment to the period classed as 'final period of ownership'.  This has been reduced, from 36 to 18 months, depending on circumstances, with effect from 6 April 2014.