Question:
My husband and I have sold a jointly-owned rental property that we had lived in at some point. The principal private residence (PPR) relief we can claim is a total of £20,200: husband £10,100 and wife £10,100. I know that each owner is entitled to claim letting relief of the lower of £40,000, the PPR relief or the gain due to the letting. I am not clear though if we can claim £20,200 each or £10,100? Examples I have seen are based on PPR of more than £40,000 and then say both husband and wife can claim up to £40,000 each.
Arthur Weller replies:
My husband and I have sold a jointly-owned rental property that we had lived in at some point. The principal private residence (PPR) relief we can claim is a total of £20,200: husband £10,100 and wife £10,100. I know that
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