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Relief that means you do not pay CGT when you sell your main home.
Private Residence Relief means you generally do not pay Capital Gains Tax when you sell your only or main home. The relief covers the entire period you lived in the property as your main home, plus the final 9 months of ownership. If the property was ever rented out or used for business, some of the gain may be taxable. The relief also applies to a garden or grounds up to half a hectare (or more if appropriate for the house).
This definition is for informational purposes only and does not constitute tax, legal, or financial advice. Rules may change and outcomes depend on your circumstances.
These GOV.UK and HMRC sources provide the official context for this glossary entry. The definition is educational and does not determine your individual tax position.