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HMRC internal manual

Capital Gains Manual

Private residence relief: exchanges of interests: disposals on or after 6 April 2010: roll-over relief

TCGA 1992/S248E(7)

Where the relevant conditions are met then the landowner and the co-owner or co-owners may make a joint claim for relief. The time limit in TMA70/S43 applies, see CG60600.

The exchange shall be treated -

  • as if the consideration for the disposal of the relinquished interest in the dwelling-house was an amount giving no gain and no loss, and
  • as if the acquired interest had been acquired -

    • at the time it was originally acquired jointly, and
    • for the same allowable costs as would have been allowed in computing a gain on a disposal by the co-owners.