CG65441 | Restriction of private residence relief: trustees: claim for gift hold-over relief made on or before claim for private residence relief

TCGA92/S226A

Where

• a claim for gift hold-over relief under TCGA92/S260 is made in relation to any earlier disposal, the latest of which was made on or after 10 December 2003

and

• that claim would result in a reduction in the allowable expenditure used to compute the gain arising on the later disposal if private residence relief was not available

and

• that claim is made at the same time or before the making of a claim for private residence relief in respect of the later disposal

Private residence relief will not be available to the transferors in respect of the later disposal (TCGA92/S226A (2)).