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PPR Relief

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › PPR Relief

  • This topic has 4 replies, 2 voices, and was last updated 10 years ago by zhaoyunyi.
Viewing 5 posts - 1 through 5 (of 5 total)
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  • November 25, 2014 at 5:27 pm #213196
    zhaoyunyi
    Member
    • Topics: 21
    • Replies: 6
    • ☆

    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!

    November 28, 2014 at 1:07 pm #214101
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    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

    November 28, 2014 at 3:33 pm #214138
    zhaoyunyi
    Member
    • Topics: 21
    • Replies: 6
    • ☆

    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?

    November 29, 2014 at 9:01 am #214244
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    (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

    November 30, 2014 at 9:13 am #214650
    zhaoyunyi
    Member
    • Topics: 21
    • Replies: 6
    • ☆

    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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