PPR and Letting Relief
Amie
Registered Posts: 5 New contributor 🐸
Can someone confirm on the following
Property brought 29 Nov 2010
Empty until 1 Mar 2011
Rented until 1 Aug 2011
Owner moved in and rented again (herself and 3 lodgers) until sale in Aug 2015
NP - 241,307
Cost (193219)
Gain - 48088
PPR calculated on this gain
48088/56*48 = 41218
therefore chargable gain 6870
No need to calculate Letting Relief as gain is covered by AE?
Is this correct??
Thanks
Property brought 29 Nov 2010
Empty until 1 Mar 2011
Rented until 1 Aug 2011
Owner moved in and rented again (herself and 3 lodgers) until sale in Aug 2015
NP - 241,307
Cost (193219)
Gain - 48088
PPR calculated on this gain
48088/56*48 = 41218
therefore chargable gain 6870
No need to calculate Letting Relief as gain is covered by AE?
Is this correct??
Thanks
0
Comments
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Given the gain was only 6870, you are absolutely right but be careful of any other CHargeable CG.0
