222 Relief on disposal of private residence
Taxation of Chargeable Gains Act 1992 (1992 c 12) | Legislation

Part VII Other Property, Businesses, Investments etc

Private residences

222  Relief on disposal of private residence

(1)     This section applies to a gain accruing to an individual so far as attributable to the disposal of, or of an interest in—

(a)     a dwelling-house or part of a dwelling-house which is, or has at any time in his period of ownership been, his only or main residence, or

(b)     land which he has for his own occupation and enjoyment with that residence as its garden or grounds up to the permitted area.

(2)     In this section “the permitted area” means, subject to subsections (3) and (4) below, an area (inclusive of the site of the dwelling-house) of 0.5 of a hectare.

[(3)     Where the area required for the reasonable enjoyment of the dwelling-house (or of the part in question) as a residence, having regard to the size and character of the dwelling-house, is larger than 0.5 of a hectare, that larger area shall be the permitted area.]

(4)     Where part of the land occupied with a residence is and part is not within subsection (1) above, then (up to the permitted area) that part shall be taken to be within

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