As a general rule, a person’s principal private residence is a UK owned property where they normally reside.

One of the most useful tax benefits of this is that when a Principal Private Residence is sold there is 100% tax relief (PPR relief) to offset any Capital Gains that may have arisen.

However, if you own a second property that is used by you for part of the year, e.g. six months in one property and six months in another property, then it is possible to split the Principal Private Residence between the two properties.

This may be very beneficial depending on the value of each property, the purchase price of each property and the length of ownership.

If you would like us to look into this on your behalf please contact us.