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What is the PRR situation for a UK property owned and sporadically occupied by a diplomat who regularly worked overseas?
Q: What is the PRR situation for a UK property owned and sporadically occupied by a diplomat who regularly worked overseas?
A: A diplomat has since 2003 received a daily allowance to enable him to find accommodation whilst away on diplomatic duties abroad. In the tax year 2004 he acquired a house here in the UK and stayed in there for brief period’s brief periods – circa a month here and there and rented out for the remainder of time. The house was sold in 2016/17 and the question has arisen as the availability of PPR relief and lettings relief:
When looking at this there are several factors that have to be considered: