How Do I Elect Main Residence Relief for Capital Gains Tax on a Second Home?

Q. 1 How do I make a ‘section 222 election’?

I need to make a capital gains tax main residence relief election under TCGA 1992, s 222 as I have just bought a second home, which I would like to make my main residence. Do you know how I do this? Is there a standard template letter I can use?

Arthur Weller replies:

HMRC’s Capital Gains Manual at CG64520 states: ‘There is no statutory form for a notice under s 222(5) TCGA92 or for a variation of such a notice. However, the following conditions must be fulfilled:

  • A nomination by an individual must be made to an officer of the Board and must be signed by the individual. The signature of an agent is not sufficient.
  • Spouses or civil partners who are living together can only have one main residence between them for the purpose of private residence relief. If a nomination affects both of them, it must be made by notice in writing to an officer of the Board and must be signed by both of them…’
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