Rupert bought a house in Manchester on 1 November 2001 for 75,000. He occupied the house as
Question:
Rupert bought a house in Manchester on 1 November 2001 for £75,000. He occupied the house as his principal private residence until 1 November 2005 when he left to work abroad for a year, living in rented accommodation. He moved back into his house on 1 November 2006 and stayed until 1 August 2010 when he left to work in Aberdeen, again living in rented accommodation until his return on 1 November 2014. This time he stayed for three years, leaving on 1 November 2017 to go to live with a friend. He never returned to the house and it was sold on 1 March 2024 for £343,000.
During his absences, Rupert always let his house in Manchester and claimed no other property to be his principal private residence. He also let rooms (comprising one-sixth of the house) to a tenant between 1 November 2006 and 31 July 2010.
Compute the chargeable gain arising on the March 2024 disposal.
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