PPR AND ABSENCES
My client is in the process of selling their main residence and has asked me if there would be any capital gains tax to pay on disposal.
The property, located in Manchester, was acquired in March 2010 and my client lived there until March 2016 – they had taken a job in London and decided to rent a flat there, renting out the property in their absence. They were made redundant in February 2021 and moved back into the property in Manchester in March 2021.
I advised at the time that any gain on a potential disposal of the property would be relieved by principle private residence relief for the period of occupation and letting relief for the time when the property was let out. With the changes to letting relief from 6 April 2020, are there any other reliefs that my clients could benefit from?
To read the full article – CLICK HERE