private residence relief non residents

[kanrent]

hi can anyone tell me if i am or how much prr i can get if i sell my property in 2016
i am non resident i bought my house in 1984 i lived in it as my only home for 17 years after that i rented it out for 14 years whilst being non resident for that period
thank you

[Peter D]

17/31 of the gross gain. However there is also letting Relief up tot a max of £40,000 per owner.
You need to tell me all the facts values and dates and I will run the numbers for you. Regards Peter

[Peter D]

Read HS 283 on the HMRC web site. Regards Peter

[maths]

In principle your gain is the difference between sale value and market value as at 6 April 2015. However the last 18 months are free of CGT.

In short on a sale within 18 months of 6 April 2015 no CGT on any gain.

[Peter D]

I concur as long as the owner remains non resident I miss-read the OP post and though he had returned to the UK. "being non resident for that period". Regards Peter

[kanrent]

hi peter thank you for your help
here are some more details as follows :
i bought my house in 1984 and paid 26,000 pounds for it,
i lived in it as my one and only home for 17 years
i then moved abroad in 2001 and let it until the present day,
during that i time i did not spend more than 90 days in any one year in the uk, as i understand it i have to be non resident for 5 years not sure how HMRC calculate this
i would like to sell it in 2016 for 310,000 so it would have been rented out for 15 years, in which time the rent was my only income.
i filed a self assessment tax return every year and my tax affairs are up to date.
im not sure how much CGT i will have to pay or and if im allowed any PRR.
thank you for any further help if you can give it

[Peter D]

You are non resident so different rules. Read Maths post again. Regards Peter