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In a example-11 ppr relief calculated as per 140,000 x 285/ 321
But i calculated actual months are 120 and exemption are 36 so benefit of 84 months so 140,000 x 237( 3+24+174+36)/321.
Can you please solve my problem? Why are you taken 285?
Hi Pavanpavanmehta as you will see from the answer and agree with from your answer above the taxpayer was absent from the property for the last 120 months of ownership. However he has deemed occupation for both the last 3 years (36 months) of ownership (which I assume you agree from your answer) AND also for 4 years (48 months) for working elsewhere in the UK! This leaves 36 months of non-occupation which create the chargeability. Unfortunately the 3 years for any reason deemed occupation does not apply as he did not resume occupation prior to sale whereas the 4 years for working elsewhere in UK will apply for so long as he is still working elsewhere in UK he does not need to resume occupation to take advantage of this deemed occupation period.
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