Rose12
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CGT: Private Residence Relief period for separating non-married joint tennants
Please can you advise on the application of Private Residence Relief for a separating couple owning a property as joint tenants in scenario below: Property jointly owned and main residence for both person A and B, for 10+ years. Relationship ended, an agreement was made for person A to buy the equity from person B. Person B moved out 6 months ago, into rented accommodation - which is now their main residence. Does the outgoing joint owner, party B, whose equity share is being purchased, have 9 months from changing their main residence to complete the transaction to comply within PRR? If so, the transaction need to be complete within next 3 months? as they have already moved out 6 months ago.