Principal private residence relief: commencement of works did not constitute a disposal of land for the purposes of the relief (First-tier Tribunal) | Practical Law
The First-tier Tribunal held that commencement of works did not constitute a disposal of land for the purposes of principal private residence relief (PPR) where a seller allowed the purchaser to work on the land on an informal basis before contracts were exchanged. The land remained within the meaning of section 222(1)(b) of the Taxation of Chargeable Gains Act 1992 until its disposal on the date contracts were exchanged. (Dickinson v HMRC [2013] UKFTT 653 (TC).) (Free access.)