chargeable assets form 11

[scubasteve]

does anyone know if it is required to list your princeiple private residence (bought in 2008) as a chargeable asset on a form 11 in the section "chargebale assets acquired in 2008". surely its not required as there will be cgt when i go to sell it. (ie becasuse it is PPR)

 

[Mommah]

I assumed if its not acquired in 2008 then I don't list it...but what do I know??

 

[DB74]

Technically your PPR is a chargeable asset because it is not a wasting chattel or any of the other exempt assets in the CGT legislation. Also, it may not always be your PPR.

When you sell your PPR, it's not that the sale is exempt from CGT as such but you get relief to the value of the profit.

That's my understanding of the legislation anyways.