Client sold a residential property. Exchange of contracts was just before 5 April 2020. Completion was early September.
My understanding is that the normal rule is that exchange of contracts is the disposal date unless the contract is conditional. The property had a tenant at time of sale and the following clause was included in the contract
The Seller shall give the Buyer not less than 10 working days' notice (including the day on which it is given) of the completion date.
In the event that the Tenant who is in occupation of the Property has not vacated the Property by [specified date about six months later] either of the parties hereto may rescind this Contract by notice to the other in which the deposit paid hereunder shall be repaid to the Buyer
This was to allow the lease to run out and the tenant did vacate. Does this clause move the CGT date to the completion date (meaning all the radical changes post 5/4/2020 apply, including the 30 day reporting rule) or can we still use exchange of contracts?
I have already set in motion the ability to make a 30 day report in case that applies here.