Some questions about PPR relief:
1. If I traveled for 1 year and then directly go to work overseas without actually occupy the house for 3 years and then sell it, can I claim the 3-year for any reason regarding to that 1 year of travel?
2. For work in UK and overseas do they need to be preceded by actual occupation in order to qualify for deemed occupation?
Thank you very much!
Ask the Tutor ACCA TX-UK
PPR Relief
1. No, the 3 year for any reason requires a period of occupation following the period of absence and prior to sale of property. If of course the period working overseas was only 2 years then the last 3 years deemed occupation would cover the 1 year of travel
2.Not immediately preceding but some occupation must have occurred to make it the taxpayers PPR prior to any period of absence
So for (1), if I travel for 1 year, then going to work overseas for 3 years, then come back and occupy the house for 1 year before sale, then I can claim the 3 years relief for any reason against the 1 year travel period, right?
For (2), if after purchasing the house, I immediately work overseas and then come back to occupy the house, then go travel, and then work overseas again.Then the first overseas working period is not available for relief but the second overseas working period can be relieved, right?
(1) Yes, so long as the property has been occupied at some point prior to the travel as well
(2) Yes for the first overseas work period to be allowed the taxpayer must have occupied the property prior to going overseas
Sorry I forgot to ask: if I occupy the house and then work overseas then directly travel to other places and sell the house without return to occupy it, then the work overseas period can not be claimed by PPR relief, right?
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