HOW DOES PRIVATE RESIDENCY RELIEF WORK?

Private residency relief works by reducing the amount of capital gains tax that must be paid on the sale of a property that has been used as the seller's main residence.

The amount of relief that is available depends on a number of factors, including the length of time that the property was used as the seller's main residence, the amount of time that the seller owned the property, and the value of the property when it was

If the property has been the seller's main residence for the entire time that they owned it, they may be eligible for full private residency relief. This means that they will not be liable to pay any capital gains tax on the sale of the property. If the property was only the seller's main residence for part of the time they owned it, they