Hello
As the government information online is unclear for NRCGT on UK residential property (links going to unhelpful places), perhaps someone would be kind enough to confirm the rules on qualifying for PRR?
I left the UK and have been non-res since well before 2015 (not for reasons of employment).
I bought my UK home in 2000 and lived in it for some years before 2015. It has since been let out. I have no other UK property.
My tenants have just said they're leaving, and due to personal circumstances I'm now in a position to start spending more time in the UK (during my kids' school holidays, which means around 100 days per year).
Decision - do I sell now and buy a property that's more convenient, or wait?
If I sell now, I pay CGT on gains (using using favourable method) accrued since Apr 2015. However, if I spend 90 nights in the property (spread over school holidays) during 2019-2020 and then sell after April 2020, I can claim PPR which means I get relief for the last 18 months, plus lettings relief. I calculate this should save me at least £15K in CGT.
I have noted that so long as I don't work too much during the 90 days in the UK, I can avoid becoming resident in the UK for tax purposes for the year in which I wish to sell.
Is this correct, that the 90 days in the UK will have the double benefit of both spending time in the UK(!) and reducing my CGT?
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