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Private residence relief

Posted Thu, 25 May 2023 12:58:56 GMT by
Hello, whilst I understand that you cannot answer specific scenarios, can you please help me with regard to PRR in monetary terms? I occupied a house for 54.50% of the period it was owned, it was let out for the remainder of ownership. I need to be able to complete section I of the computation sheet. Is the relief calculated by simply multiplying the gain by 54.50%? Many thanks.
HMRC Admin 25
Posted Fri, 26 May 2023 12:39:39 GMT by HMRC Admin 25
Hi Morgan21 Murdoch,

Private Residence Relief is worked out at the number of months the property was your main residence, plus a further 9 months, over the total number of months you owned the property.  
The Private Residence Relief is the gain minus the gain * the fraction or percentage.  
Eg.  £100000 * 54.5% = £100000 - £54500 =  gain £45500.
Thank you. 

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