CG64735 - Private residence relief: letting: complete relief on part let
A dwelling-house is sold at a gain of £100,000 in May 2020. 70 per cent of the dwelling-house has been lived in by the owner throughout his period of ownership as his only or main residence. »Ê¹ÚÌåÓýapp remaining 30 per cent has been let throughout as residential accommodation.
»Ê¹ÚÌåÓýapp computation is
| - | - | - | £ |
|---|---|---|---|
| Net gain | - | - | 100,000 |
| Private residence relief 70% | - | - | 70,000 |
| - | - | - | 30,000 |
| Relief under Section 223B limited to the lowest of | - | - | - |
| - | Private residence relief | 70,000 | - |
| - | or | - | - |
| - | TCGA92/S223B(4)(b) | 40,000 | - |
| - | or | - | - |
| - | Chargeable gain by reason of the letting | 30,000 | - |
| Applicable relief | - | - | 30,000 |
| Chargeable gain | - | - | 0 |