This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our privacy notice.

Private Residence Relief: Don’t Delay!

By Mark McLaughlin, April 2019
Mark McLaughlin highlights a potential restriction in capital gains tax private residence relief in common circumstances.

Most homeowners will be aware that if they buy a house and live in it as their only or main residence throughout their period of ownership, there should be no capital gains tax (CGT) to pay when they sell the property, due to principal private residence (PPR) relief.

The concept of PPR relief is straightforward enough. Unfortunately, circumstances can result in the relief being restricted (or denied). For example, there may be a delay between an individual acquiring a dwelling and occupying it as their only or main residence.

Short delays: HMRC’s concession
However, in some cases, HMRC will treat short delays by the owner-occupier when moving in as a period of occupation for PPR relief purposes (Concession D49). Those circumstances are broadly where the residence
Create an account to read the rest of this article
Sign-in
Begin your tax saving journey today

Each month our tax experts reveal FREE tax strategies to help minimise your taxes.

To get Tax Insider tips and updates delivered to your inbox every month simply enter your name and email address below:

Thank you for signing up to hear from us!