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Posted Fri, 20 Dec 2024 11:24:13 GMT by steph119922
Hi I lived in my home for 20 years and 6 months ago I purchased another property which I moved into immediately. I have rented out the first property now. My question is: as the 1st property is rented out, do i still need to make an election for this to be my main residence for the private residence relief upon sale of this property? From researching, as the property is rented out i am not sure this can be nominated as my main residence? If I do not need to make the election, how do I ensure i receive the PPR relief for the 19.5 years it was my main residence? Thanks
Posted Tue, 07 Jan 2025 15:37:47 GMT by HMRC Admin 19 Response
Hi,
No election is required as it is the first house that is rented out. The Private Residence Relief will only be applicable when you come to sell and we cannot comment on what this will be as legislatoin can change.
Thank you.
Posted Wed, 08 Jan 2025 02:33:03 GMT by Frank Owen
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