Two residences

Two residences

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An individual buys some land and subsequently builds a second residence, moving in within 12 months.

He takes advatage of ESC D49 so that the period pre completion qualifies for main residence relief.

For the purposes of the main residence election, the two year time limit would appear to be unaffected by the reliance on the concession, i.e. the two year period runs from the time he physically occupied rather from when he was deemed to occupy.

Do readers agree?
Daren Peacock

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By User deleted
21st Sep 2006 18:28

Occupation, occupation
I agree. My reading is that it is not possible to make the PPR election until each property has actually been physically occupied as a residence.

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