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Posted Thu, 09 Jan 2025 09:24:15 GMT by Rose12
Please can you advise on the application of Private Residence Relief for a separating couple owning a property as joint tenants in scenario below: Property jointly owned and main residence for both person A and B, for 10+ years. Relationship ended, an agreement was made for person A to buy the equity from person B. Person B moved out 6 months ago, into rented accommodation - which is now their main residence. Does the outgoing joint owner, party B, whose equity share is being purchased, have 9 months from changing their main residence to complete the transaction to comply within PRR? If so, the transaction need to be complete within next 3 months? as they have already moved out 6 months ago.
Posted Thu, 23 Jan 2025 17:10:59 GMT by HMRC Admin 25 Response
Hi Rose12,
We cannot advise on personal circumstances.
We can provide links to the guidance in this area.
Please have a look at helpsheet HS283:
HS283 Private Residence Relief (2024)
And Helpsheet HS281
HS281 Capital Gains Tax civil partners and spouses (2024)
For guidance on Capital Gains Tax.
There is a Capital Gains Tax calculator here:
Tax when you sell property
Which leads on to registering for a capital gains account, which you use to report and pay any Capital Gains Tax.
For more detailed advice, you would need to contact our Self Assesment helpline.
Self Assessment: general enquiries
 Or seek professional advice.
Thank you. 

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