Sauce for the MP? Keep your CGT to a minimum if you have 2 or more homes!
It isn’t only MPs who can use the tax system to keep their Capital Gains Tax to a minimum. If you have two or more homes you too should look at the benefits of making a tax option for your principal private residence. This is perfectly legal and above board.
Some MPs have attracted criticism because they said that one home was their main home for expenses purposes, but that another one was their main home for tax purposes. The suggestion is that, as a matter of fact, both can’t be right. However, since you don’t get expenses for your homes the problem doesn’t arise.
So contact us for advice and keep your tax bills down!
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