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Posted Fri, 01 Nov 2024 16:33:49 GMT by Seagull
My wife lived in her home for a number of years. I then moved in with her and after a year we bought a new property together (about 6 years ago) and moved in there. Since then we have been letting out her original house. We are now thinking of moving back into the original house. If we sold it in a few years time would we be liable for CGT or can we nominate it as our main residence? Many thanks for your help.
Posted Wed, 06 Nov 2024 15:54:50 GMT by HMRC Admin 34 Response
Hi,
As it has not been your main residence for the whole period of ownership then CGT will still be likely. Any nomination submitted now would not cover the whole period the property has been rented out.
For further guidance please use the link below:
CG64495 - Private residence relief: only or main residence: two or more residences: time limit for nominating
Thank you

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