Capital Gains Tax 21 - Making a claim or election for residential property (and carried interest)
Choose the relevant code from the drop-down box. If you're making more than one claim enter 'MUL' or, if the claim or election is not listed, enter 'OTH'.
PRR - Private Residence Relief where Lettings Relief does not apply
LET - Private Residence Relief where Lettings Relief applies
GHO - Gift Hold-Over Relief
ROR - Rollover Relief
PRO - Provisional Roll-Over Relief
NVC - Negligible Value Claims
OTH - Other claims
MUL - If more than 1 code applies
You must make a claim or election by clearly stating it in your attached computation. Some claims have to be made on a separate claim form which you complete and attach to your Tax Return along with your computation.
You must state the amount of any relief or allowance you're claiming.
Private Residence Relief (PRR) where a dwelling house which can include a:
- house
- flat
- houseboat
- fixed caravan
Which:
- is your only or main residence throughout your period of ownership
- you have not been absent, other than an allowable period of absence or because you have been living in ‘job-related accommodation’ during your ‘period of ownership’
- the garden or grounds including the buildings on them are not greater than the permitted area, 5,000 square metres
- no part of your home has been used exclusively for business purposes during your period of ownership
Lettings Relief (LET) cannot be given if the dwelling house has been your only or main residence at some time in your period of ownership and has been let as residential accommodation.
