Hoping someone can help with this.
Husband and wife own a property jointly (Property A)which they bought a number of years ago just before marrying. Wife already owned a property (Property B) in a different location. This was her main residence prior to marriage, and for the first two years of marriage was where the couple spent time together. During that two year period, husband lived in Property A and visited wife in Property B (where she lived full time) most weekends. From year three of the marriage, the roles were reversed, with husband living full time in Property A, and wife spending 50 % of her time in each property. Both properties are now being sold - and a much larger gain will arise on the sale of Property B. It seems clear that Property A will have been the main residence from year three onwards and that a claim for relief can be made on the gain arising on the sale of that property. And that wife can claim relief for Property B for the period of ownership pre marriage. But what about the first two years of marriage? What would be the best strategy here? If it matters, all the to-ing and fro-ing was due to husband having established business interests in the location of Property A, and wife being in the same position in the location of Property B.
Thank you in advance.
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