Understand tax efficient flips for second homes

The tax bloggers at RJP’s latest article explains ‘flipping’ – an important tax planning strategy for property owners.

’Flipping’’ a property became widely known as a property tax planning tactic when the MPs’ expenses scandal was in full swing. In addition to claiming for all sorts of expenses, it was discovered that MPs were avoiding capital gains tax on second homes by alternating their living arrangements between properties owned, in some cases spending just one week a year in any one property.