PPR relief denied

PPR relief has been denied in the recent Bradley case, reports Harris & Co chartered accountant.

The First-tier Tribunal decided that a taxpayer"s sale of a house did not qualify for relief from capital gains tax as a principal private residence under the Taxation of Chargeable Gains Act1992 (‘TCGA 1992’), s. 222. The house was not the taxpayer"s residence since she never intended to live in it permanently. At the time she moved into that house, she had already placed it on the market and never withdrew her instructions to the estate agents.