When is it a PPR

S

Shoshana

Guest
If I buy my first property as PPR but live at home for first year and rent it would it still be considered as PPR? could I still claim interest relief while still paying tax on rental income? thanks
 
No. It is only your PPR if you live in it. You would be liable for investor stamp duty on the purchase or if/when you rented it out within 5 years of purchase as an owner occupier, you would be subject to the normal property investment treatment as far as tax and other issues (e.g. PRTB registration) go and you would not be entitled to claim owner occupier mortgage interest tax relief but would be able to offset interest against rental income.
 
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