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Where Taxpayers and Advisers Meet

PPR and Letting Relief

Flash
Posts:36
Joined:Wed Aug 06, 2008 3:56 pm

Postby Flash » Sun Oct 07, 2007 10:37 am

Sorry to be a pain, but I just want to make sure I understand properly.

Is PPR being granted twice for the same period?

Once for the first property (last 36 months) and secondly for the second property by virtue of the fact that they own and live there?

My confusion comes from the fact that I thought you could only have PPR on one property at a time during a specific period in time.

Thanks very much for taking the time to explain this.

Peter D
Posts:10668
Joined:Wed Aug 06, 2008 3:37 pm

Postby Peter D » Sun Oct 07, 2007 10:48 am

One property is PPR Exempt and one is the owners PPR and are in residence. You can only have one PPR in which you actually live, the other is a PPR exemption by way of previuos residential qualification. Regards Peter

Flash
Posts:36
Joined:Wed Aug 06, 2008 3:56 pm

Postby Flash » Sun Oct 07, 2007 11:42 am

Thanks

King_Maker
Posts:6538
Joined:Wed Aug 06, 2008 3:22 pm

Postby King_Maker » Mon Oct 08, 2007 12:04 am

The 36 month rule is a deeming provision. It does not over-ride the actual PPR, if it is different.

So Yes, in these cicrumstances, 2 (or more) properties can qualify for PPR relief for the same period.


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