Section 226A (introduced by FA 2004) denies or restricts the relief if

the owner acquired the dwelling house on or after 10 December 2003, and

the acquisition cost of the dwelling house, is reduced by gift hold-over relief under TCGA92/S260 (see CG67030+).

Relief under section 260 most commonly involves disposals by or to the trustees of certain types of settlement (see CG67041). The claim to relief has to be made by both the individual and the trustees if the transfer is from the trust to the individual. Only the individual need make the claim if the individual transfers the property to the trust.

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