Tax
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Hi. My name is*****'m looking at your question now and will post my answer or ask for more information here in a short while.
An individual can only have one main home at any one time. When you buy a new property on your own, you will have two years to make an election for one of the properties to be treated as your main home for CGT purposes to avoid having HMRC make it for you based on the facts, ie where you are actually living.
If you decided to elect that the property that you share with your mother is to be treated as your main home then, for as long as that is the case, any gain you make from selling the new property would be subject to CGT. If you sold the property you own with your mother first, then your new property will become your main home by default from that point. If that happens in, say five years, then the first five years worth of gain as a proportion of the whole gain you may make on a subsequent sale of the new property would be subject to CGT. You need to consider what your medium to long term plans are. If you think that you will live in the new property for the rest of your life, then it would make sense to elect for your current home to be treated as your main home as CGT will never be an issue with a property that you don't intend to sell one day. You can change the election at any time.
I hope this helps but let me know if you have any further questions.
Your mother would not have to pay CGT so long as the property is her main home.
As I said in my answer, you would have to make an election to choose which of the two properties is your main home to avoid HMRC making that decision. Many people make the decision based on which property is likely to be sold first or have the larger capital gain.
Thanks.