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PPR Two houses owned
David explained a personal property situation in his query of 15 September 2006. Property A had been owned for many years and was sold in April 2006 with full CGT private residence relief due. Property B had been acquired in July 2004. Substantial improvements had been carried out to it and the family moved in to the property in February 2006 after moving out of Property A.
Would PPR relief apply to Property B for the period July 2004 to February 2006?
Euan McLennan replied to this query, and stressed that full PPR would only be due if the property was sold before July 2007. This is on the basis that the property is now a PPR and...