SolvedCG64736 | Private residence relief: letting: restricted relief on part let
From HM Revenue & Customs · Capital Gains Manual
A dwelling-house is sold at a gain of £150,000 in 2014. It has been lived in by the owner throughout her period of ownership as her only or main residence. Throughout that period 60 per cent of the property has been let as residential accommodation.
The computation is
| Description | - | - | Amount (£) |
|---|---|---|---|
| Net gain | - | - | 150,000 |
| Private residence relief 40% | - | - | 60,000 |
| - | - | - | 90,000 |
| Relief under TCGA92/S223B limited to the lowest of | - | - | - |
| - | private residence relief | 60,000 | - |
| - | or | - | - |
| - | TCGA92/S223B(4)(b) | 40,000 | - |
| - | or | - | - |
| - | gain arising by reason of the letting | 90,000 | - |
| Applicable limit | - | - | 40,000 |
| Chargeable gain | - | - | 50,000 |