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Posted Mon, 05 Aug 2024 13:26:19 GMT by Laura Free
My question is a calculation for PPR and capital gains I have owned a second property for 7 years and have rented it out during that period. I intend to sell my main residence and move into that property for two years and then sell it. What tax will I be liable to pay? And will the gain be added to my self assessment as a lump. I’m currently in the lower rate tax band and am sole director of my ltd company.
Posted Thu, 08 Aug 2024 05:59:59 GMT by HMRC Admin 25
Hi Laura Free,
HMRC cannot comment on future events as legislation and/or plans may change.
Based on current guidance, you would be due private residence relief on the 2nd property for the 2 years you plan to live in it.
The rate of tax you pay depends on the gain made as it could be 18% or 24% 
Thank you. 

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