I have a client who lives with his parents. He has just purchased a flat which he is renovating and will probably sell it on once complete. He does not wish to physically live in it whilst it is being renovated to save Council Tax. Can he still claim that it is his Main Residence to avoid paying CGT?
Thanks
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You have to actually live in it.
https://www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg64465
You really need to establish this flat as your home and live there for at least six months with all significant entities treating this as your home. e.g. Council Tax, Income Tax, Bank Statements, Utilities, etc. Then subject to any circumstances that we do not know about, you can sell this as your main home with all tax exemptions.
This is just basic advice so it would be better for you to consult a professional to properly consider all aspects of the situation and receive advice on how best to proceed into the future. Depending on the circumstances and amounts involved, you may be better off treating this as a business.