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HMRC internal manual

Capital Gains Manual

Private residence relief: exchanges of interests: disposals on or after 6 April 2010: conditions for relief

TCGA 1992/S248E

Roll-over relief under TCGA92/S248E applies where five conditions are met. These are

  1. a person (“the landowner”) and one or more other persons (“the co-owners”) jointly hold an interest in two or more dwelling-houses.
  2. the landowner disposes of an interest (“the relinquished interest”) in one or more of the dwelling-houses to the co-owner or one or more of the co-owners.
  3. the consideration for the disposal is or includes an interest (“the acquired interest”) in one of the other dwelling-houses.
  4. as a consequence of the disposal (together with any related disposals) —



  1. the dwelling-house in which the landowner acquires an interest becomes the only or main residence of the landowner, and
  2. each of the other dwelling-houses becomes the only or main residence of one (and only one) of the co-owners.


  1. if each dwelling-house were disposed of immediately after the disposal (or disposals) then by virtue of sections TCGA92/S222 and TCGA92/S223 no part of the gain accruing on each of those disposals would be a chargeable gain.