Principal qualifying gains

The principal gains within the scope of PRR are gains which:

(a)accrue to an individual (though see Chapter 8 as to relief for trustees and personal representatives); and

(b)are attributable to the disposal of, or of an interest in, a qualifying asset (TCGA 1992, s. 222(1)).

A gain is only within the scope of the relief ‘so far as’ it is attributable to a disposal within (b). This raises some interesting possibilities in marital breakdown situations which are discussed at Chapter 10.

Principal qualifying assets

The assets that qualify for PRR are:

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