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private residence relief – overseas self employment

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › private residence relief – overseas self employment

  • This topic has 3 replies, 2 voices, and was last updated 1 month ago by JillyB.
Viewing 4 posts - 1 through 4 (of 4 total)
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    Posts
  • December 4, 2022 at 1:07 pm #673322
    justalittlelost
    Participant
    • Topics: 18
    • Replies: 29
    • ☆

    Hello,
    Is the unoccupancy due to overseas employment limited to 4 years for self employed individuals as opposed to the unlimited exemption for employed individuals?
    Thank you.

    December 4, 2022 at 1:12 pm #673328
    JillyB
    Moderator
    • Topics: 0
    • Replies: 179
    • ☆☆

    I’ve never seen a question that involved the self employed working abroad. All the questions normally involve an employee

    December 5, 2022 at 10:01 am #673445
    justalittlelost
    Participant
    • Topics: 18
    • Replies: 29
    • ☆

    here is the question from bpp:
    Ronald is self-employed. He purchased a house and lived in it for two years. The house was then unoccupied for five years because Ronald went to work outside the UK. He then lived in the house for three years. Ronald then went to live with his mother and the house was unoccupied for six and a half years. Finally, Ronald lived in the house for the last six months of his ownership.

    How many months of Ronald’s 17-year period of ownership of the house will be exempt for the purposes of private residence relief?

    answer:
    an excerpt from the answer relating to 5 years overseas is “Deemed occupation – up to 4 years self- employed overseas, plus 1 year any reason”

    so only 4 years overseas limit for self employed?

    December 5, 2022 at 1:11 pm #673472
    JillyB
    Moderator
    • Topics: 0
    • Replies: 179
    • ☆☆

    Where’s the question come from?

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