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When you bought the Scottish property did you elect as to which property you wished Private Residence Relief to be applied?
HMRC will base the Private Residence Relief (PRR) on the facts which will point to your Scottish property However you will receive PRR on the first and only property for the period until you bought in Scotland and for the last 9 months of ownership when you are deemed to be in occupation, even if this is not the case. The CGT proportion will be thus adjuste when you sell your original property..
Ido not do telephone calls any more, they are no longer cast effective.
Yes,because HMRC will base their decision on the facts as no election was made,
Sorry, Just Answer protocol does not allow me to take on private business from customers.
18% or 28% or a combination of the two rates depending on your UK income including the gain in the tax year of disposal. You have a non cumulative Annual Exempt Amount (AEA) of 12.3K to offset any gain.
Pleased to have been of assistance.
No problem, this charge does not crystalise until I advise that the call has been successfully completed which I shall not be doing.
No problem, pleased to have been able to heelp.
Sorry, something seems to have gone wrong here and you will have to approach Just Answer Administration to unscramble the problem. I certainly did not say the the call had been successfully completed.