can I use PPR as a hub for nomadic life

snettergal · Postby **snettergal** » Wed Nov 10, 2004 2:26 pm

I live on the road working at:- festivals in the uk, organic farms etc ,travelling in my camper van. I shall overwinter in spain as I have chest problems caught doing voluntary work in Africa.
If I buy a house in the u.k to use as my "base" do I have to spend any specific amount of time there to qualify for PPR? It would be my only residence but I would only go there to do DIY on it and in between places to work.
Could I then let it after say 1year?
thanks.

cranleys · Postby **cranleys** » Sat Nov 13, 2004 1:36 pm

Groovy

In short you cannot use PPR for developing. Try it at your expense - try 100% tax penalty on the tax incurred. Yes one client who came to me recently. It is often overlooked but once a property developer it is hard to shake off particularly as you may not be able to afford one to live long term (no improvements) and one development.

I can advise further.

Colin Davison
Cranleys Chartered Accountants
Editor of Property Tax Secrets 2005
colin@cranleys.co.uk 01256-766655

snettergal · Postby **snettergal** » Mon Nov 15, 2004 4:19 pm

Many thanks Colin,
I sold my house 4 years ago and foolishly hesitated to purchase another.
I would have liked to jump on the self build gravy train.
My assets have thus dwindled (as my income is so small).When it's all gone I'll at least be eligible for benefits and social housing ....
What a system!