From 6 April 2015 you will no longer be able to elect which property is your Principal Private Residence, PPR and hence get relief from Capital Gains Tax, CGT. Currently you can choose and inform HM Revenue & Customs of your choice. When you sell that property no CGT is due on the gain from the date of the election to the date of sale unless you made another election.
From 6 April 2015 it will be a question of fact which is your principal residence. Coupled with the reduction from 3 years to 18 months for the last period of ownership being tax free regardless of the properties status this will result in the loss of tax planning opportunities. MPs will no longer be able to flip their PPR to save CGT.
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Source: Alpha Feed