Whilst qualification for business asset disposal relief is beneficial, it only secures a 10% tax rate such that there is still a liability to CGT. By contrast, there is a possibility of absolute relief (in whole or part) where there has been owner occupation of the property and TCGA 1992, s. 222 main residence relief applies. This can either be on the facts that the property was at some point occupied as the main residence, or more usually by reason of election under s. 222(5). The benefits of main residence relief are not only in the period of time exempted, but also by reason of the extension of deemed occupancy under s. 223(1) and by let property relief under s. 223(4).

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