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.
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