CGT and Temporary second property

Hi all,

I'm after some advice on capital gains tax and a second property

Let me explain the scenario:

My brother and I were left 200k inheritance in a joint account to use how we please.

I've spent my half on buying a flat, and he's leaving his in the account while he goes travelling.

I want to move to a house, and I've put in an offer subject to sale of the flat.

Here's the tricky bit. What I'd like to do, is use the 100k in the bank instead of the 100k I would get from the flat sale to go towards the house and secure it before someone else snaps it up. Then, when the flat eventually sells, the 100k can go back in the bank to replace the money I "borrowed" from myself.

The only problem I can see, is that because I'll have two properties, the eventual sale of the flat will incur a big loss due to capital gains tax.

Does anyone know if there's any way I can make use of the money just sitting in the bank without incuring any financial "penalties" in the process?



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