How does my holiday home in the UK affect my capital tax position?
For many people, owning a holiday home is a major aspiration. Having a place to enjoy for leisure and recreation purposes has definite appeal, and demand for UK holiday homes has significantly increased over the last 18 months, in light of the COVID-19 pandemic. However, owning one may have Inheritance Tax (IHT) and Capital Gains Tax (CGT) implications which should be considered.