Q&A: principal private residence relief claims

In our regular Q&A series, Croner Taxwise tax adviser Marsha Haywood examines the impact of principal private residence relief (PPR) on a sale of a property held in a trust

The trustees of a discretionary trust have transferred a residential rental property to a beneficiary and held over the arising gain under section 260 TCGA 1992. There was no holdover claim made when the property was transferred into the trust 10 years ago. The beneficiary plans to live in the property for a few years and is then likely to sell it. Will he be entitled to claim principal private residence relief (PPR) on the eventual disposal?

Your free features:

  • Breaking news and expert analysis
  • Customisable daily newsletters
  • Six free CPD learning modules each year
  • Personalised CPD tracker
  • Top 75 Firms league tables
  • Regulatory changes
  • Hardman’s Tax Data

Sign up to Business & Accountancy Daily

Related Articles
Subscribe