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Principal private residence (PPR) relief ― overview

Produced by a Tolley Personal Tax expert
Personal Tax
Guidance

Principal private residence (PPR) relief ― overview

Produced by a Tolley Personal Tax expert
Personal Tax
Guidance
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The UK has, broadly speaking, experienced an almost continual uprise in house prices over recent decades. Declines in the housing market are often seen as temporary ‘blips’ against a backdrop of an ongoing housing shortage. Relief is provided against the gain arising on the disposal of person’s home through a full or partial exemption. This is commonly known as principal private residence (PPR) relief. Other terms used for this relief include private residence relief and only or main residence relief.

What qualifies as a ‘residence’ depends on both the property’s description and how it has been used over time. Where there are changes in the use of a property, the exemption from capital gains tax (CGT) may be restricted.

The amount of PPR relief is therefore dependant on a calculation that involves a number of elements which rely upon the information provided by the taxpayer. Often, the quality of the information provided can be less than ideal especially in cases where the taxpayer is having to recall detail about the use of the property

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  • 09 May 2024 09:00

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