The “final period exemption” for Principal Private Residence Relief (PPR) has been reduced from 5 April 2014 from 36 months to 18 months. This relief allows homeowners to claim PPR in full despite having moved out prior to the sale. Previously, a person could not live at a property for three years before sale and still claim the relief in full, but now this period has been reduced to 18 months.
For more information please contact Claire Conlon.