Principal Private Residence (PPR) relief can wipe out or significantly reduce the tax you owe when selling your home. A Principal Private Residence (PPR) is a house or apartment which you own and occupy as your only, or main, residence.
There isn’t a simple answer so speak to your tax adviser. You must prove that you intended to make it your permanent residence.
So many people aren’t claiming all of the allowances that they are entitled to – don’t be one of them! HB Accountants are on a mission to let people know (and claim what’s rightfully theirs’ to use) all the allowances and tax breaks, to improve the financial future for themselves and for their families – our Tax Manager Amy is here to help
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