I have a client who emigrated to Australia in 2012 following the extention of a 12 month work contract which became permanant. They bought a property in the UK in 2006 and became Australian Residents in 2012. The property has been sold in March 2022. They haven't rented the property in the 10 years since becoming Australian residents as they have used it as their UK base when they return every few months. Would this qualify for Principle Private Residence Refief (PPRR) for CGT purposes for the entire period of ownership?
23rd Mar 2022
Principle Private Residence for Emigrations
PPR for clients who have emigrated so no longer UK-res. Still use it as a UK base when returning.
Share this content