Section 517M | Private residences

No liability to income tax arises under this Part in respect of a gain accruing to an individual if—

(a)the gain is exempt from capital gains tax as a result of sections 222 to 226 of TCGA 1992 (private residences), or

(b)it would be so exempt but for section 224(3) of that Act (residences acquired partly with a view to making a gain).