Private Residence Relief: Who Qualifies and What You Get
Learn if your home sale is exempt from Capital Gains Tax under the Private Residence Relief scheme.
Private Residence Relief is a tax relief that allows people to avoid paying tax on the profit made when selling their main home.
Who it's for
This scheme is for homeowners who are selling the property that serves as their primary place of residence.
What you get
If you qualify, you receive a full exemption from Capital Gains Tax on the sale of your home. This means you do not have to pay tax on any profit you make from the sale.
What it costs you
There is no cost to access this relief.
The catch to know
This relief is specifically for your main home. It does not apply to properties used as second homes or properties that you own specifically to rent out to others (buy-to-lets).
How to apply
- Ensure the property you are selling is your only or primary residence.
- Confirm you have lived in the property as your main home.
- Check your tax records to ensure you do not owe any other capital gains.
- Consult official guidance or a tax professional if you are unsure about your specific circumstances.