PPR and Capital Gains Tax

[mister mac]

Planning to build a house in the new year on a site which has FPP with the occupancy clause removed.
As a first time buyer/builder if I want to sell the house after completion of the build can I avoid paying Capital gains tax by claiming house as my Primary place of residence?,and what if any evidence do I have to produce to prove this?

 

[Luternau]

I think you are OK on this so long as you do not do this regular. If the place is your PPR then you are entitled to sell without paying CGT. i do not think there are minimum periods of occupancy for PPR that is sold on. peoples circumatances can change and the Revenue are fair and reasonable people until you give them reason not to be!
However, if you are doing this a lot, the revenue may regard you as a property developer and apply Income Tax rates on your profit, as its deemed to the income from trade or profession.