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Principle Private Residence (PPR)

  • Landlords can elect any of their properties to be their principle private residence
  • CGT is not normally payable on a landlords PPR.
  • Should a landlord let a property formerly elected as their PPR then the first three years of any Capital Gain are exempt from CGT
  • A landlord who genuinely intends to buy a house for his PPR but with hindsight and prior to purchase decides not live in it (e.g. he marries and shares another home with his spouse), he may elect to rent the second home instead and also be entitled to call such home as a PPR for tax purposes.
Published: 11 November 2013 Last Updated: 17 November 2021