CGT & main property allocation
I've owned a house for 30 yrs which I lived in for 20 years & have been letting for 10yrs, and I've been renting a house to live in. It's increased in value hugely so there will be a lot of CGT if I sell it, but as it is my only property I presume I will get some PRR & PLR reliefs without having to allocate it as my main property.
But if, before selling it, I buy another smaller property to either live in or let, do I have a choice as to which is my main property? Can I still get the reliefs having lived there for so long?
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