CGT on Main Residence Property

I bought my Hong Kong ("HK") main residence property in October 2004. I started to live in the property in December 2005. Since then, I had been living in the property until March 2022 when I moved from HK to the UK. The property was sold in June 2022. During the period from October 2004 to December 2005, no one occupied the property. I did not rent it out. That is to say, during the total of 212 months of ownership, I lived in the property (as my main and only residence) for 198 months. My understanding is that I can claim private residence relief for 198/212 of the total taxable capital gain. Am I correct?

Hi
You can claim private residence relief using the formula number of months the property was your main residenct, plus a further 9 months, over the number of months you owned the property, times the capital gain.  
The private residence relief is (198+9/212)*gain.  
The relief is deducted from the gain, leaving the amount chargeable to tax.

Thank you for the reply. Regarding the formula and figures to be applied on the formula, please let me elaborate more clearly. Hong Kong (HK) property purchased in October 2004 Began to live in the property in December 2005 (living in the property since then) Left HK for the UK in March 2022 (living in the property until the last day in HK) Property sold in June 2022 Thus, the total no. of months of ownership = 212 (i.e. from October 2004 to June 2022) The total no. of months living in the property = 198 (i.e. from December 2004 to March 2022 + from April 2022 to June 2022) Should the formula for PPR be [198/212 x gain] or [(198+9)/212 x gain]? Thank you.

Hi timothysycheung,
As the 9 months is for the final period of ownership, you were actually living in it until March.
As sold in June you were only out for 3 months so 6months of the final 9 you were living in it.
As such you would only add 3 to the 198 to work out your relief - 198+3/12
Thank you.