ARTICLE · 20 MARCH 2014

Property Taxes

Smith & Williamson

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A property that qualifies as an individual's private residence for the purpose of PPR relief at some time during ownership is deemed to continue to do so during the final period of ownership.

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Smith & Williamson

The commentaries below are written in general terms. You are strongly recommended to seek specific advice before taking any action based on the information given, both in the commentaries and in the publication.

CGT principal private residence (PPR) relief – final period rule

A property that qualifies as an individual’s private residence for the purpose of PPR relief at some time during ownership is deemed to continue to do so during the final period of ownership. This is the case even if the individual is not living in the property at the time they dispose of it and even if they are claiming PPR relief on another property at the same time.

From 6 April 2014 the final period exemption will be reduced from 36 to 18 months.

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