Three ways to mitigate CGT

With such significant increases in the price of property over the years (although perhaps not so much in the last couple of post credit crunch years) the capital gain arising on a second home is a significant item for many taxpayers. Three aspects of the CGT legislation give valuable opportunities for mitigating the tax bill: The relief for the principal private residence. The annual exemption. Tax free uplift on death.    1. Electing your main residence Where a taxpayer has more than one residence it is possible to make an election as to which should be treated a...