CG65013 - Private residence relief: relief for two dwelling houses for same period
The effect of s223ZA TCGA92 (or ESC D49 where the disposal was prior to 6 April 2020) is to extend the period of residence in respect of a newly acquired dwelling-house. If this means that an individual is treated as having two residences for a period, a nomination under s222(5) TCGA92, see CG64485+, between them, is not required. Relief will be available for both residences for that period.
Example
An individual puts his current residence up for sale in December 2019. He buys a dwelling-house as his new residence in May 2020 but does not move in straight away. He remains in his old residence until it is sold in November 2020 and then moves to the new dwelling-house. The gain arising from the old residence, which has always been used as his only or main residence is wholly relieved. Relief is due on the new residence from May 2020 under s223ZA TCGA92, see CG65003. So relief is available on two residences at the same time for the period between May 2020 and November 2020.