Question:
I live in rented house and do not own a property. If I acquired a property in Wales, would this be classed as my primary address? I would not live there.
Arthur Weller replies:
If you are referring to principal private residence (PPR) relief from capital gains tax, the property you are intending to buy in Wales would not qualify. This is because PPR relief is only available when the taxpayer actually occupies the property. See HMRC’s Capital Gains manual at CG64465 here: tinyurl.com/4rm4ybpe.
