HMRC changes 20-hour landlord incorporation guidance weeks after Property118 open letter
HMRC has changed its published guidance on the controversial 20-hour test for landlord Incorporation Relief, expressly confirming that somebody who spends fewer than 20 hours a week on their property activities may nevertheless be carrying on a business for the purposes of section 162 of the Taxation of Chargeable Gains Act 1992. The amendment to…