I am after some advice with regards to Capital Gains Tax (CGT) on the potential sale of my private property. I am a member of HM Forces who, with my wife, purchased a residential property in Jun 15 for £207,000. The property was purchased with a view to living in it, however being in the military I/we were unable to live in it as my employer requires me to live where I work. As such they provide Service Families Accommodation (SFA). From Aug 15 we have therefore privately rented our property as we couldn't live there as a result of my job. Yesterday we had the property valued at between £300,000 to £325,000. Whilst we always intended to live in the property, the potential profit to be made appears too good to miss out on. We are trying to work out if we would qualify for private residence relief for the purposes of CGT as a result of my being in HM Forces/job related accommodation.
Any advice or assistance would be greatly appreciated.
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