Tag: Private Residence Relief

CGT Nominating Residence
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CGT Nominating Residence

Where a person has only one residence, that residence is their only or main residence. Where they acquire a second residence, they have a period of two years to nominate which residence is the main residence for capital gains tax purposes.

Flipping Private Residence Relief
HMRC

Flipping Private Residence Relief

Where a property has been let, making it the main residence for a period also opens up the opportunity of letting relief to further reduce the gain. The period as a main residence can be after the period of letting.