Private residence relief: letting: complete relief on part let
A dwelling house is sold at a gain of £100,000 in 2014. 70 per cent of the dwelling house has been lived in by the owner throughout his period of ownership as his only or main residence. The remaining 30 per cent has been let throughout as residential accommodation.
The computation is
|Private residence relief 70%||70,000|
|Relief under Section 223(4) limited to the lowest of|
|Private residence relief||70,000|
|chargeable gain by reason of the letting||30,000|