This is going to read like an exam question...
Husband and I jointly own and live in two adjacent terraced houses (House A and House B). No mortgage on either house. Although we live in both of them at the same time, and all the time, I am pretty sure only one of them can be our PPR (two separate dwellings on Land Registry, two separate postal addresses etc). Each house has been valued at about 250,000.
We now want to sell one of them, to buy a house in a different area (House C, partial move now and eventual retirement home) for about 300,000. House C would be our PPR.
House A we have owned for 30 years, and is our PPR (registered to vote there, our address with HMRC, etc). House B we have owned for only about 8 years.
If we sell House A (the PPR), keep House B and buy House C: we don't pay CGT on House A but do pay 2nd home stamp duty on new House C. Is that right? But House C is going to be our PPR, so maybe I'm wrong about the 2nd home stamp duty?
If we sell House B, keep House A (the current PPR) and buy House C: we pay BOTH CGT on House B AND 2nd home stamp duty on House C (or not?, see previous query).
It just seems that during this process, we're not allowed to have a PPR!
If we put House A into Husband's sole name, and House B into my sole name, does it work better? House A is the PPR, sold with no CGT; all the money from the sale belongs solely to Husband; he does not own another property (House B being in my name) so can buy House C in his name only without paying 2nd home stamp duty. Is that right?
But I would be really uneasy about not being the joint owner of the family home (new House C) in the long term (what if disaster strikes? I have no income). So, after Husband buys House C in his sole name without 2nd home stamp duty, can he then transfer the ownership to our joint names without having to pay any extra stamp duty? House C would automatically have become my PPR as soon as he bought it, as we're married.
I'd pay CGT on House B sometime in the future (at least 10 years time) when we sell it. Can I avoid some of that CGT by swapping our "nomination" between new House C and House B at some point in the future?
Any advice most gratefully received - I am perfectly happy that we (or I) will be paying CGT at some point, but am puzzled that we may have to pay 2nd home stamp duty for a change of PPR.