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Posted Wed, 15 May 2024 12:27:02 GMT by greenleaves Jay
Dear HMRC Please kindly help to clarify the CGT and 'Private Resident Relief' for the below scenario - Lived in the only owned residential property for 10 years - And if relocated to a nearby area for work and lived in a rented property for 5 years and let out the only owned residential house for these 5 years during the relocated period - And if to sell the only owned residential house how is the CGT calculated? - Can the 'Private Resident Relief' be used for the whole 15 years as that is the only owned property? - If to get the PRR for the full 15-year period, should I inform HMRC to nominate the single-owned house as the main home, when moving away from my own house at the time of leaving Please kindly help Thanks
Posted Fri, 17 May 2024 14:55:44 GMT by HMRC Admin 25 Response
Hi greenleaves Jay,
We cannot comment on any form of calculation/example or scenario, whether fact or fiction.
We can only point you the direction of the guidance, so that you can review the guidance and to allow you to make an informed decision.
The guidance on Residential Relief is here:
Private Residence Relief (Self Assessment helpsheet HS283)
Thank you. 

 

 

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