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Harris, Law Specialist
Category: Law
Satisfied Customers: 2851
Experience:  Family Law - Specialist in Divorce, Financial Relief and Children Matters
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I bought a proprty on the 27 feb 2014 and sold it on the 30

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i bought a proprty on the 27 feb 2014 and sold it on the 30 march 2016. purchase price 165000 sold 219950. it was a buy to let property. can i claim prr on it i am a basic rate tax payer. what would be my tax liability on it

Hi, thank you for your question. As the property is a buy-to-let property you will not be able to use your PRR exemption as this is limited only to your main home which you occupy. However, if you had ever occupied the BTL property as your main home then you would be entitled to some reduction to your CGT bill.

If this is not the case then you would be liable for CGT on the increase in value (£54,950) and your liability as it was disposed of in 2015/16 should be £11,199.50.

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