PPR CGT Nomination

[robbie_db]

Hi All,

Are there any circumstances in which one doesn't have to nominate a property as your PPR for CGT purposes.

I have what was a rental property, which I owned for 10 years I ended up living in the property as my PPR for 2 years at the end of that 10 year period.
When I brought the property it was a shell. Uninhabitable. I understand such properties can be given PPR relief for the first 12 months even though you are not living there.

However, I didn't at the time nominate it as my PPR. It was later nominated as my PPR when I moved in in the last 2 years of ownership.

I'm wondering if there is any way of historically claiming that very first year from PPR relief?

Many Thanks

[bd6759]

No. The property was not a residence at that time, so could not be your PPR.

A PPR nomination only applies when you have 2 or more properties in which you actually live.

[robbie_db]

Hi bd6759,

I know for a fact a property which is an uninhabitable shell can receive a PPR election for the first 12 months even though it can't be lived in. So you are technically incorrect there.

The question ultimately relates to whether I can utilise that despite the fact I didn't nominate it at the time?

[bd6759]

That is not correct.

You are referring to ESC D49. This does no involve a PPR election. Relief will be given for a period of 12 months (exceptionally a longer period) if the delay in occupation is due to the house being built or repaired. The requirement is that the house becomes the residence at the end of that period.

This house did not become your residence, so ESC D49 cannot apply. Similarly, as it was not your residence, an election would not be possible. Even if it were, an election can only be backdated 2 years.

[maths]

When out of one's depth a little humility goes a long way.