Hello, I am Keith, one of the experts on Just Answer, and pleased to be able to help you with your question.
Before I can fully address your inquiry I need to know a number of additional facts. Did you ever occupy this house as your sole or main domestic residence, when did you buy it and what did you pay for it? When did you enter job related accommodation at your work place?
Occupation of Job related accommodation extends Private Residence Relief (PRR) for the entire period it is so occupied. Here is the guidance from HMRC Helpsheet 283 [edited]:
'If you live in accommodation that is job-related and you also own a dwelling house that you intend to occupy as your only or main residence, the dwelling house you intend to occupy is treated as actually being occupied by you as a residence during the period in which you intend to occupy it, even if you never actually live there. This means that you may nominate that residence as your only or main residence and get relief on the whole or a part of the gain. If your intention to live in the dwelling house ends, then the dwelling house is no longer treated as your residence.'
The general consensus of experts on this site is that you should occupy this house for at least 6 months before sale to cover the last sentence in the Helpsheet opinion. However, for your last 18 months of ownership you are deemed to be in occupation even if this is not the case. You should, if you plan carefully, have no Capital Gains Tax (CGT) to pay as PRR relieves it at 100%. For your information the gain is calculated on the difference between the net selling price and the acquisition cost. The former is the sale price less the cost of sale. The acquisition price is the price paid plus purchase costs including Stamp Duty plus improvements eg installation of double glazing, central heating, extensions etc, but not routine maintenance. The gain so calculated is reduced by your Annual Exempt Amount (AEA) of 11.1K and then taxed at 18% or 28% or a combination of the two rates depending on your income including the gain in the tax year of sale.
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