Using PPR relief to get around CGT liabilities

Capital gains tax is sometimes an unavoidable tax, but there are ways to mitigate or manoeuvre around it by using the Government's principal private residence (PPR) relief. The basic principle behind Capital Gains Tax (CGT) is if an asset is chargeable, then it is subject to CGT on its disposal or part disposal. Disposal can be by sale or gift. Most assets are chargeable, including residential properties, however, if the house is a PPR it can be exempt from the tax, even if it is located. Tax relief is also available to trustees so long as a life tenant occupies the house as a PPR and ...