Can i claim PRR & Lettings Relief?

[Bubble7113]

Hi Everyone

I am in the process of submitting my online tax return and would like some advice on the following if possible.

I purchased a property in March 2004 for £105,000

Sold this property in May 2016 for £173,250

Ownership of property = 146 months
Property was empty for = 2 months
I lived in this property = 5 months

Am i right in thinking i can claim PRR on 5 months plus the 18 months given at the end totalling 23months? So the gain of £68,250 multiplied by 23 divided by 146 = £10,751 PPR relief?

Also with the lettings relief as the PRR relief is smaller than the £40k allowance would this letting relief also be £10,751?

Can i claim for both and where do i show this on my return?

Any help would be appreciated.

[bd6759]

Calculation looks OK. Whether PPR is due will depend on whether the property was your residence. That will involve exploring why you bought it, why and when you lived there, and what your intentions were.

[Bubble7113]

Thank you. And you cannot claim letting relief without prr?

[maths]

Correct.