Inner banner

“ They explain my accounts in a way that’s
easy to understand

About us

Changes to Principal Private Residence Relief (PPRR)

Changes to Principal Private Residence Relief (PPRR)

Are you aware of the changes to PPRR that come into effect on 6th April 2020, which introduces a reporting requirement on the sale of all UK residential properties? This includes residential investment property and situations in which the sale of a person’s home is not fully covered by PPRR.

 Principal Private Residence Relief

 

In these situations a special return must be completed within 30 days of completion. In addition, if a person is required to make such a return and, as at the filing date for the return, an amount of tax is notionally chargeable, the vendor is liable to pay that amount on account on the filing date for the return. If the return is not filed, the vendor may incur penalties and interest charges.

For further information contact Ian Parsonage on 0151 348 8400 or email ijp@moco.co.uk.