Buying Property As A Home


If you are an individual buying a property to use as your home, BKL can offer home buying financial advice. You will benefit from an important exemption known as the Principal Private Residence relief (PPR).

This very valuable relief will allow you in most cases to sell your home free of UK Capital Gains Tax.

In many cases, the relief is straightforward. But it can get more complex if there are periods when you have not lived in or let the property, or if you have more than one property that is used as a home. In this case, only one home can qualify as the PPR at a time.

With careful planning and use of the PPR election facility in these situations, the relief available on one or more homes can be maximised, often doubling up on reliefs.

Expensive homes acquired by companies and other entities

Special rules have been introduced to target perceived avoidance by wealthy foreigners buying property through offshore companies. Although the rules are targeted at non-UK residents, it is important to appreciate that they apply also where a home is acquired, or is already owned, by a UK company. The rules do not apply to homes owned directly by individuals.

The rules apply to expensive homes acquired or owned by companies and other defined corporate type entities. An expensive home is one costing more than £500,000. The rules impose penal tax charges on the acquisition and an annual tax based on market value.

You can find out more about each of these taxes on our corporate ownership of expensive dwellings page.

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Sam Inkersole

In 2022, Sam won the Taxation’s Rising Star award at the Taxation Awards in and was named in the Accountancy Age 35 Under 35.

Jon Wedge

While Jon’s client work focuses on the financial services sector, he also oversees the firm’s assurance service, as well as supporting the trainees following in his footsteps.


Elana joined us in 2017 as an ACA trainee, after graduating from Durham University where she had studied languages. She is now a manager in our assurance team.


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