Sarah Bradford explains how to choose which residence is your main residence and when changing it can be beneficial.
Private residence relief is a valuable capital gains tax (CGT) relief, which means that no CGT liability arises for the period that a property is the owner’s only or main residence. Being a main residence at some point is valuable, as the last nine months of ownership (or the last 36 months where the individual is disabled or a long-term resident in a care home) qualify for the relief.
Certain periods of absence also qualify for relief, as long as the property has been a main residence before and after the
