PPR relief - 4 year limit?

Heisenburg81

If a person sold their PPR for a gain and never filed a CGT return until five years later, do they lose entitlement to PPR relief under the 4 year rule?
Would be catastrophic if large gain.

Lockedout2

Most people never file a tax return for the sale of their PPR.

Heisenburg81

Lockedout2 wrote: »

Most people never file a tax return for the sale of their PPR.

If you didnt have 100% period of occupation, and a taxable element as a result.
If only filed after 5 years could you lose the relief on the qualifying period?

barneystinson

Heisenburg81 wrote: »

If you didnt have 100% period of occupation, and a taxable element as a result.
If only filed after 5 years could you lose the relief on the qualifying period?

The 4 year time limit is a limit on a claim for a repayment. It has nothing to do with a claim to a relief.

If the time is to be limited for claiming a relief, the time limit would have to be specified somewhere. Given the policy imperative behind PPR relief (something of a sacred cow) it would make no sense for there to be a time limit.

Also, some reliefs / exemptions apply regardless of whether they are claimed. Can't be arsed reading s604 to check, but I'd be surprised if this isn't one such instance.

Lockedout2

Agree with Barney, the asset is exempt so the relief applies either way.

dogsears

Correct 604 does not require the making of a claim, it just applies.