Capital gains tax for second homes

Capital Gains Tax for second homes is an important consideration for property owners, especially with the rule changes introduced from 6 April 2015. One consequence of the new rules could potentially affect people with more than two residences in the UK. For a residence to be treated as the main residence and hence be eligible for Private Residence Relief (PRR), it will have to be occupied for at least 90 midnights in a tax year.

This adjustment may make it more challenging for owners of multiple properties to claim PRR and reduce their tax liability. If you’re managing multiple properties or selling a second home, understanding these changes is essential.

How We Can Help

At Lewis Brownlee, we specialise in helping clients navigate the complexities of Capital Gains Tax for second homes. Our experienced team can assess your specific circumstances, ensuring you comply with the latest rules while minimising your tax liability.

We can:

• Review your property portfolio and help determine your eligibility for Private Residence Relief (PRR).
• Ensure compliance with the 90-night rule to maintain your main residence classification.
• Provide clear, actionable advice for selling second homes, helping you reduce Capital Gains Tax obligations.

With our tailored approach, you’ll receive expert guidance to protect your investments and maximise your financial position. Whether you’re selling a property or planning for the future, we’ll make the process smooth and stress-free.

Secure Your Financial Future

Capital Gains Tax for second homes doesn’t have to be overwhelming. Contact us today to ensure your property investments are fully optimised and compliant. Let us help you navigate these rules with ease.