I’ve been trying to work this out and can’t! I’ll pay for an accountant but wondered if anyone else has been through this and can help.
My DH works in a boarding school where he is required to live in a flat at the school. We have lived there as a family for 9 years. 5 years ago we decided to buy a house locally in case anything happened with his job, and for us to live in when the time came to change jobs. We have rented it out the whole time. Our intention was always to live there but now that he really is leaving the job, we think it would be sensible to downsize to a smaller house as the cost of living and lack of expected pay rises means that it would be a real stretch in the bigger house with a bigger mortgage.
According to this HMRC page
https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg64555
as our intent was to live there, we are can have private resident relief and not pay CGT? But other stuff I’ve read suggests that’s not true as we rented it out and never lived there.
Has anyone been through similar and actually know? I have had conflicting advice so far!