CGT on second home

I would like advice regarding liability to CGT on a second home. I bought a property in 2015 intending to move house, but a combination of circumstances has meant that I did not sell my existing property or change my PPR. I own both properties outright. If I now nominate the second home as my PPR, for how long would I need to live there before I could sell without CGT liability?

Hi,
As the claim would now be late, capital gains would still be due -
CG64500 - Private residence relief: only or main residence: two or more residences: late nominations
Thank you.

Please advise: I've been informed that I can offset the capital gains tax due on a second home if an extension is then added to a principal private residence - in other words the extension to a principal private residence can be used to mitigate CGT due on the sale of a second home. Can you please clarify?

Hi GW,
No, you cannot do that. If the extension was on the second property, it can be set against any gain on its disposal. The extension on your principle private residence relates solely to that property and can be set against any gain on that property, along with private residence relief.
Thank you.