Having jointly owned a property with my father for a number of years, this is now being sold. I lived in the property for some time and since my father’s death I now own the whole property. My question is: does the PPR calculation apply to the whole gain, or does it just apply to the gain relating to my original half of the property?
Arthur Weller replies:
Half the property you have always owned, and the other half you acquired when your father died. You need to look at both halves separately and calculate capital gains and PPR relief for each half independently. For example, if you never lived in the property after your father died, you will not get any PPR for that half