Taxation of Chargeable Gains Act 1992 Schedule 11 paragraph 19

Private residences

Schedule 11 paragraph 19 provides a transitional rule extending the deadline for nominating a main residence for private residence relief purposes in cases arising around the introduction of the original legislation.

• Where a person owns more than one residence, they may nominate which is their main residence for private residence relief by giving notice under section 222(5).
• Normally, this notice must be given within two years from the beginning of the period during which the person has more than one residence.
• This transitional provision allowed the notice deadline to be extended to the end of the tax year 1966–67 if that date fell later than the normal two-year deadline.
• This ensured that individuals who acquired multiple residences before or around the time the capital gains tax private residence relief rules were introduced were not disadvantaged by missing a deadline they could not reasonably have known about.