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Disposals of private residences

145552
Private residence sales

This article deals with a number of common issues in the computation of gains on the disposal of private residences. Where a gain is not wholly exemption the interaction of the various reliefs and exemptions can make the computation surprisingly difficult.


On 30 June 2022 John sold a freehold house in Hampshire for net proceeds of £973 260. He had bought the house for £70 800 on 1 October 1981 and the history of his ownership is summarised in the tables.

The market value of the Hampshire house was £90 000 on 31 March 1982.

The first thing to do is to set out in table form the history of the house. For the purposes of apportioning the only or main residence relief periods of occupation prior to 31 March 1982 are ignored (TCGA 1992 s 223(7)) and so we can start our table from 1 April (see History...

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