PRR swap or no need?

[chach13]

Hi - I am quite confused over whether my wife and I need to nominate a second home as private residence.

I bought a house in coventry in 2009, and in early 2010 I moved to Devon. I have been renting in Devon since moving, and got married the same year in July (2010). My wife has been living with me at the rented premises.

Meanwhile the property that I bought has not been let, but I do stay there occasionally when visiting family.

My wife is looking to buy a property (it will be registered in her name) in Devon. My question is, do we need to nominate, one of the properties as main private residence - and are there any tax advantages available to me in doing so?

Thanks

[maths]

A married couple can only have one main residence which qualifies for CGT exemption on disposal.

An election is necessary only where a married couple have more than one "residence" at the same time; prima facie, your only residence is the rented flat.