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PRR

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › PRR

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by JillyB.
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  • Author
    Posts
  • June 2, 2023 at 9:57 am #685882
    Katherine33
    Participant
    • Topics: 6
    • Replies: 5
    • ☆

    Hi I need help to understand how the exempt figure for the third time the house was left unoccupied was calculated (for 46 months).

    Q.) On 30 June 2021 Chester sold a house for £308,000, realising a chargeable gain of £190,000.
    The house had been purchased on 1 January 2004 and throughout the 210 months of
    ownership had been occupied by Chester as follows:
    Months
    69 Occupied
    30 Unoccupied – Required to work elsewhere in the UK by his employer
    22 Unoccupied – Travelling overseas
    46 Unoccupied – Required to work elsewhere in the UK by his employer
    43 Occupied
    –––
    210
    –––
    Throughout the period 1 January 2004 to 30 June 2021 Chester did not have any other main
    residence.
    This is the only disposal in the tax year 2021/22.

    June 5, 2023 at 9:58 am #686040
    JillyB
    Keymaster
    • Topics: 0
    • Replies: 899
    • ☆☆☆☆

    The rules are clearly outlined in the manual
    And this question is a year out of date

  • Author
    Posts
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