Private Residence Relief (PRR) Explained – With Real Example 🏡📉

Thinking of selling a property in the UK?

If it’s been your home, you might be able to reduce or even eliminate your Capital Gains Tax using Private Residence Relief (PRR).

In this video, I’ll explain:

✔️ What PRR is and how it works

✔️ The 3 main scenarios HMRC considers

✔️ What happens if you’ve lived away from your property

✔️ How to calculate PRR step-by-step

✔️ A real-life example that brings it all to life

⚠️ Important: If you own more than one residence, you must tell HMRC in writing which one is your main home within 2 years of getting the second one. If you don’t, HMRC will decide for you!

💡 Whether you've lived in your property the whole time, rented it out, or lived abroad for a while — this video will help you understand how much of your gain could be tax-free.

Watch now to avoid paying more tax than you need to when selling your home.

#PRR #CapitalGainsTax #UKTax #PropertyTax #PrivateResidenceRelief #HMRC #SellYourHome