steph119922
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Private Residence Relief and 2nd property
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