The outcome of the general election may not have brought about a wholesale change of government direction but with a Conservative majority able to push through Brexit by 31 January deadline, changes there will no doubt be, arising from changing political sentiment and Brexit events. Even though the Conservatives did not put forward general tax rises in their manifesto, changes in aspects of capital gains tax (CGT) legislation had already been passed when the election was called. So it is important not to overlook changes which have not yet come into force and which, in the current climate of market uncertainty, may also affect those who were not primary targets for the parliamentary draftsman. Changes to CGT, which come into force on 6 April 2020, narrow the rules for private residence relief (PRR) found in sections 222/226B (https://library.croneri.co.uk/cch_uk/btl/tcga92-it-s-222) of the Taxation of Chargeable Gains Act 1992 (TCGA 1992).
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