PTX Exam - Residence Election????

stephleedz

Hi,

Just done the mock on the AAT website, Exam tomorrow and no idea what Residence Election is?

Can anyone help??

Thanks

Steph

anniebabe

http://www.google.co.uk/url?sa=t&rct=j&q=residence%20election&source=web&cd=1&sqi=2&ved=0CCsQFjAA&url=http%3A%2F%2Fwww.taxexpert.co.uk%2Fproperty_tax%2Fppr2.php&ei=cj1FT7nnB5SZ8gPv2KTSBA&usg=AFQjCNEVO0J2iPSS3Jb8_l155P4zrpRYbw


cant see it in my text book either - hope that link helps - if not try searching for it.

guinea pig

Have you looked on the HMRC website? I haven't come across it either.
Did you check the answer?
I have my PTX class tomorrow morning, so I'll try and check.
Good luck,
GP

nonmugglesue

I had a resident election question in my exam I couldn't find it anywhere either and I can't remember the question

guinea pig

I think that it maybe means that if you own more than one residence, then you have to elect which one will be treated as your main one for tax purposes???
I will check in class this morning.

guinea pig

Can't get a definitive answer, but in our Osborne book, there is a section on Principal Private residences, in the Capital Gains Tax chapter -good luck.