Private Residences

Main residence relief (also known as ‘principal private residence’ relief (PPR)) provides relief from capital gains tax on the disposal of (or of an interest in) a dwelling which has been the individual’s only or main residence, and on land enjoyed with that residence as its garden or grounds up to half a hectare, or more if the additional land is required for the reasonable enjoyment of the property.

The relief is time apportioned for periods of occupation, and for certain periods of deemed occupation. In particular, relief for the final 18 month period of ownership is given, if the property was at some time the individual’s only or main residence.

Where two or more properties are owned, the taxpayer may elect, within certain time limits, which property is to be treated as his main residence.

Married couples and civil partners may have only one main residence at any time between them which qualifies for the relief.

Lettings relief

If the main residence has been wholly or partly let as residential accommodation at any time in the period of ownership, lettings relief can provide an exemption for gains limited to the lower of:

  • the gain attributable to the let period;
  • £40,000 per owner; and
  • the gain exempt as main residence relief.

If you have a question
and you'd like a callback from one of our
specialists, simply access and fill in our callback
form and we'll get back to you.Request Callback

What we say is what you pay.
We understand that your finances are important.
Get the best advice for you and your business at a
fixed price for agreed services.Get a Fixed Quote

We believe you should be in charge
of your money, and here at Accapita
we'll show you how to reduce your tax
liablities and make more profit.Find out how to Make more, Keep more and Work less

Choose the icon that best describes your situation and see how our tailored advice can help you.

  • Start Up

    Start Up

  • Established Business

    Established Business

  • Specialist Areas

    Specialist Areas