As a result of Budget 2018, landlords will only be able to take advantage of private residence relief on Capital Gains Tax if they are living in the property with a tenant.

Chancellor Phillip Hammond said it would be removed for people who are not using the home as their main residence.

"Capital Gains Tax relief will only be permitted for landlords where they are sharing occupation of the property with a tenant," he said.

The HM Treasury suggests that it will earn around £470m between 2019-20 and 2023-24 for the Treasury.

Better targeted private residence relief

The Treasury said in its budget documents that they are making a move to better target private residence relief at owner occupiers.

"From April 2020, the government will reform lettings relief so that it only applies in circumstances where the owner of the property is in shared occupancy with the tenant," it said.

"The final period exemption will also be reduced from 18 months to nine months. The government will consult on these changes."

"There will be no changes to the 36 months final period exemption available to disabled people or those in a care home," it told us.