CAPITAL GAINS TAX – End of PPR election for UK-resident second home owners

CAPITAL GAINS TAX – End of PPR election for UK-resident second home owners

A consultation document has appeared on the government’s previously announced plans to charge capital gains tax (CGT) on non-residents’ property disposals. Unexpectedly, the proposals now also envisage the abolition of UK residents’ right to choose their principal private residence for CGT relief purposes.