john47 Singleton

I am aware that the dates are in the future but it would be useful to know what would happen using current regulations.

We bought our home - Flat 1 - in 2005. In 2008 we bought Flat 2 and rented out Flat 2. We are in the process of moving and buying a property - House 1 - which needs complete renovation and the builders estimate 6-12+ months for the work to be done. Our timescale is likely to be something like ... May 31 2025 Sell Flat 1 and buy House 1 with completion on the same day. Move into Flat 2 and designate this as our main residence with House 1 as our second property December 2025 or some date in 2026 Sell Flat 2 Move into House 1 which will become our only property Will we be liable to capital gains tax when we sell Flat 2? Is there a time scale for this type of house move?