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Posted Tue, 18 Jun 2024 19:59:58 GMT by AJT003
I own a house with my ex-partner - I lived there until we separated in Feb 22. I stayed with a friend for a couple of months, then rented a property for 12 months, then moved in with a new partner into a house they own in April 24. I have no financial interest in either the rented property or my current partner's house where I'm currently living. Am I able to nominate the property I own (currently on the market) as my main residence to avoid a CGT liability? My accountant has not mentioned this when asked, but it appears clear on the government website that this is the route I should take. Many thanks
Posted Mon, 24 Jun 2024 10:26:00 GMT by HMRC Admin 21
Hi AJT003,
You can. Nominations can only go back 2 years so you cannot backdate it to February 2022 when you moved to rented accomodation. see guidance at CG64485 - Private residence relief: only or main residence: two or more residences: right of nomination.
Thank you.

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