Hello. I'm hoping someone can offer me some help. I bought a second home in 2005 to live in with my new partner. I was advised to make a PPR nomination to this new property in 2005 as I kept my original property as a second home. My relationship broke down a couple of years later and so I moved back to my original house, which I’ve lived in since 1998, apart from those couple of years. I ended up renting the 2005 property out in 2008 as I couldn’t find a buyer for it at the time, it is still tenanted today. I thought nothing about changing the PPR nomination I’d made, as it was obvious which property was my main residence as the other was rented out.
I heard something that suggests the PPR nomination I made in 2005 could still be in place, regardless of material fact of where I actually live. If the 2005 nomination stands, it could be potentially disastrous for me as I’d like to sell my home which would therefore attract quite a large CGT bill. From what I’ve since read, the rules on the variation of PPR nomination seem quite strict, suggesting I can only backdate a variation of my 2005 nomination from 2 years today. Does my nomination still stand for the property I’ve not lived in for 8 years? Any advice on what I should do would be greatly appreciated.
Many thanks,
Andrew
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