T Thirsty Registered User Messages 3,754 6 Jan 2015 #1 I have PPR (property A) and have inherited Property B. Probate still in progress for Property B, but expect it to be completed in the next quarter. So I could possibly sell my PPR now; no CGT as it's PPR. Then move into Property B, which becomes my PPR. Inheritance tax would still be payable by 31st Oct so no change there. Am I right in thinking that if I sell Property B at some point in the future, realising a gain, no CGT is payable as it's my PPR?
I have PPR (property A) and have inherited Property B. Probate still in progress for Property B, but expect it to be completed in the next quarter. So I could possibly sell my PPR now; no CGT as it's PPR. Then move into Property B, which becomes my PPR. Inheritance tax would still be payable by 31st Oct so no change there. Am I right in thinking that if I sell Property B at some point in the future, realising a gain, no CGT is payable as it's my PPR?
J Joe_90 Registered User Messages 2,222 6 Jan 2015 #2 If you lived in it as your sole residence for the entire period of ownership then PPR relief should apply and there no CGT.
If you lived in it as your sole residence for the entire period of ownership then PPR relief should apply and there no CGT.