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Sam
Sam, Accountant
Category: Tax
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Experience:  26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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Flat rented since 1999 would now like to use as my ppr

Customer Question

Flat rented since 1999 would now like to use as my ppr
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.
Please advise if you ever used the property as your main residence?
If so, for how long?
You state the flat has been rented since 1999.
You can use PPR if the property has been lived in as main residence and then PPR is available for that period.
Many thanks
Expert:  Sam replied 2 years ago.
Hi
Thanks for your question and asking for me
The property will always give rise to a capital gain as you have had a period of time - that appears to be have been rented since 1999 which will still have to be considered if and when you come to sell it.
But as long as you move all aspects of your life back into this property - then that period of time (and any period prior to 1999) that was your main residence will attract tax relief known as private residence relief, and also consideration for private lettings relief.
And it may be that some of the time you were not able to treat this as your main residence also may qualify for tax relief, so do let me know why this was no longer your main residence from 1999 to now.
Thanks
Sam
Sam, Accountant
Category: Tax
Satisfied Customers: 13860
Experience: 26 HMRC expertise, PAYE, Self Assessment ,Residency, Rental Income, Capital Gains, CIS ask for Sam Tax
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