Hi edlanwarne,
On the basis of the info provided, you would be covered by Private Residence Relief for the first 10 years of ownership, but potentially liable to Capital Gains Tax in relation to the period when the property is rented out.
Tax when you sell your home
Sorry, we are unable to answer Inheritance Tax (IHT) queries on this forum, but you may wish to direct your question to our colleagues on the IHT helpline Tel: 0300 123 1072.
Inheritance Tax: general enquiries
Thank you.