What is Private Residence Relief and does it apply to me?

Private Residence Relief (PRR) is the tax relief that exempts the gain on your main home from Capital Gains Tax. If you lived in the property as your only or main residence for the entire time you owned it, the full gain is exempt and you don't need to report the sale. PRR also covers the final 9 months of ownership automatically, even if you've already moved out by then. So if you moved out and rented the property before selling, the last 9 months still count as a period of residence for relief purposes. PRR is reduced proportionally for any periods where the property wasn't your main home — for example, if you owned it for 10 years but only lived in it for 7, roughly 70% of the gain (plus the final 9 months) would be exempt. If you're not sure whether PRR applies to your sale in full or in part, message us on live chat — it's one of the most common areas where people either over or underpay.