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Posted Wed, 13 Nov 2024 13:10:27 GMT by Dora Dorset
We bought our 2nd home (House B) in Oct 2020, and then had a house move with our 1st home (House A) in Oct 2022 and lived between the two, for work reasons. In April 2024 we nominated House B as our main residence, as work meant we were there most of the time. Now our circumstances have changed again and we want to get back to having just one property ... Q: If we sold our nominated residence (House B) first and then moved into House A (with no plan for a second property), how and when would we pay the Capital Gains Tax on House A (which was previously nominated as our second home)?
Posted Fri, 15 Nov 2024 14:35:37 GMT by HMRC Admin 20 Response
Hi,
HMRC cannot comment on future events as legislation and/or plans may change. however, on current legislation, house A would only attract CGT if sold.
Thank you. 
Posted Fri, 15 Nov 2024 15:54:09 GMT by Dora Dorset
Thanks so much for your reply. Just so I'm completely clear, if I sold House B (my nominated residence) and moved into House A, CGT would only be payable at the time of selling House A, no matter how far in the future? I understand you can only answer with regards to current legislation.
Posted Tue, 19 Nov 2024 12:02:22 GMT by HMRC Admin 19 Response
Hi,
Based on current legislation yes, that is correct.
We cannot confirm details on future events as legislation may change.
Thank you.

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