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taxadvisor.uk, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 4995
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
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I have a question about capital gains tax. I bought

Resolved Question:

Hi,
I have a question about capital gains tax. I bought a property in October and sold it in July 2015. I lived in the property for a couple of months, and also letted it as a holiday let for 3 months. Can I use the final period exemption as the property was my main residence?
thank you
Submitted: 2 years ago.
Category: Tax
Expert:  taxadvisor.uk replied 2 years ago.
Hello and welcome to the site. Thank you for your question.

The final 18 months of your period of ownership always qualify for relief, regardless of how you use the property in that time, as long as the dwelling house has been your only or main residence at some point.

Confirmation of this can be found in HMRC helpsheet HS283 here (look for period of ownership after example 3)

https://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet/hs283-private-residence-relief

I hope this is helpful and answers your question.

If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.



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Expert:  taxadvisor.uk replied 2 years ago.
I thank you for accepting my answer.

Best wishes.