Letting Relief

[stephenp]

Hello All,

Am I correct in thinking that you have to live in the property as your PPR at some point in your period of ownership to claim letting relief?

Thanks
Steve

[Tax Accountant]

Hello All,

Am I correct in thinking that you have to live in the property as your PPR at some point in your period of ownership to claim letting relief?

Thanks
Steve

Yes.

Additionally, you also need to have let the property as residential accommodation at sometime in your ownership.

Letting relief is the lower of gain equal to PPR relief and gain chargeable due to letting, but subject to a maximum of £40,000.

Ramnik