Budget 2018: the chancellor has included provisions in Private residence relief: Budget 2018 brief, restricting lettings relief and reducing the Private Residence Relief (PRR) final period exemption from April 2020.

From April 2020:

  • Lettings relief will only be available to those who are in shared occupancy with a tenant. 
  • The final period exemption allowing PRR for the last 18 months of ownership as long as the property qualified for PRR at some point, will be reduced to 9 months.
  • The final period exemption will remain 36 months for those who move into care and for disabled persons. 

Useful links:

Budget 2018 live highlights

Budget 2018 summary

External link

HMRC: Private residence relief: Budget 2018 brief