greenleaves Jay
Joined: 5/15/2024
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CGT for the only house if it is rented and live in a rented property
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