Does dual homeownership attract capital gains tax?

Q My boyfriend and I both have properties, which we have owned for 15 and 20 years respectively. We want to sell them with the intention of buying one property together. We have seen a house we like and have enquired with the bank about a mortgage for the new property before ours have sold. We both have a small mortgage on each property and quite a lot of equity. We are worried that if we buy this new property before we sell both or either of our present houses then we would be liable to pay capital gains tax (CGT) as for a short time we would both own two properties. Is this right or are there any exemptions? LW A You don't need to worry about CGT. Provided the homes you are selling were your main residences and you sell within three years of moving out, there shouldn't be a CGT bill. However, if you let either of the properties there could be a bill to pay. You can find more guidance on calculating the gain in helpsheet HS283 Private residence relief available from HM Revenue & Customs.