Capital loss (or gain?) on PPR/Rental.

P

plant43

Registered User
Messages
393
In 2008 I bought a house for c. 300,000. It was my PPR until 2015. In 2015 I emigrated and rented the house out until 2019. When I emigrated in 2015, I estimate the house was worth c. 170,000. In 2019, the tenants left and I sold the house for c 240,000. Am I entitled to claim a capital loss of 60,000 for this or is the loss pro-rated between time as PPR and non-PPR? Thanks for any advice.
 
The value of the property at the time of your emigration isn't relevant to the calculation and yes, you do have to split the loss based on the time the property was your PPR (and not available to offset against other losses).
 
Thanks! In this case can I use the exemption that my property is classed as PPR for 2019 given that it sold in 2019.
 
Yes, but that won't help as it's the period of time when it WASN'T your PPR that is the allowable capital loss.
 
You must log in or register to reply here.
Back
Top