Hi All,
Hoping someone can please help me regarding a CGT query, and specifically re Private Residence Relief
So I grew up with my parents in House A for most of my life.
In 2005 my parents moved to House B and I solely lived in House A.
In 2011, my parents gifted me House A.
Since then I have both lived in House A as my main residence for some of the time, and other times lived in House B to look after my parents when they have needed help and care.
During those times I have rented out House A as follows:
2005 to 2010 - Lived there as my main residence
2011 - Gifted to me
2010 to 2014 Rented out
2015 to 2019 - Lived there as my main residence
2020 to current - Rented out.
I now wish to sell this property, but am finding the rules re: CGT and PRP very complex - I am a higher rate tax payer - but how would the proportion of PRP apply to CGT here? I dont own any other property and currently live with my parents.
Many thanks in advance for any help
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