Primary residence election

Apr 23, 2013 3 Replies
T

Hi,



I bought a flat in London in October and I'd like to elect it as my primary residence.



I have two questions:


  1. How do I do that? No amount of searching on the hmrc website has brought me to any forms or other instructions.


  1. Can I back date the election to the date I bought the flat or will it be from whenever I send the notice?



Thanks,



Tim.


Vote
Twitter Facebook LinkedIn
T

I found this:

formatting link
Which says that it's just a letter, there's no form.

And this:

formatting link
Which I think says that I can specify the date (i.e. it can run from the date I bought the flat)

Only found via google that took me to a tax adviser site that had a broken link to an old version of CG64520 and then doing another google for CG64520

Tim.

Vote
Twitter Facebook LinkedIn
R

formatting link
tells you how to make suchan election. But if you do not make an election how is the matter decided(should the need arise)? Is it the simply a matter of fact which was yourprimary residence?

Robert

Vote
Twitter Facebook LinkedIn
T

Thanks.

Yes, if you do not make an election then it is decided on the facts. If you do make an election then provided it's a valid election then the facts don't matter. Additionally, once you've made an election you can change it again at any time. So it makes sense to make an election even if currently the default would be what you would want.

Tim.

Vote
Twitter Facebook LinkedIn

Join the Discussion

Have something to add? Share your thoughts — no account required.

Didn't find your answer?

Ask the community — no account required