Swapping Home Occupancy within family

jsinc

Mum will retire in the next two years and considering downsizing to a smaller house. She likes mine and has suggested swapping occupancy to try out the change and area.

Neither house has a mortgage but are there any tax or legal issues with doing this, aside from e.g. notifying home insurance companies?

I'm not sure about council tax, utility bills etc. Seems simpler to just leave them be as they'll get paid, can just pick up/scan post and it's temporary?

There'd be no change of legal ownership involved, just an occupancy swap.

Will be temporary and probably for around 6 months but could be longer if suits both, so interested if that makes any difference?

Thanks

AdrianC

There is the potential for CGT liability on sale, for the period you are each non-resident in the properties you own.

Then, of course, there are the legal requirements of landlords...

jsinc

AdrianC said:

There is the potential for CGT liability on sale, for the period you are each non-resident in the properties you own.

Then, of course, there are the legal requirements of landlords...

I (probably wrongly) assumed CGT wouldn't be an issue for a shorter period, but hadn't even considered the landlord factor.

Have been a landlord previously and just a massive hassle that I won't revist so need to check on that. Thanks

theoretica

Council tax might matter if one house has a discount - eg single person - but the other doesn't.

getmore4less

 CGT unlikely if long terms owned and just a shortish test period, liability probably covered by annual allowance.

if no consideration doubt landlord applies.
Just don't make it you have the right to occupy the other persons house while they are in yours.

jsinc

getmore4less said:

 CGT unlikely if long terms owned and just a shortish test period, liability probably covered by annual allowance.

if no consideration doubt landlord applies.
Just don't make it you have the right to occupy the other persons house while they are in yours.

That was my thought too on CGT (annual allowance) but I need to look into it more to be sure.

Don't know yet on landlord aspect but from an initial quick google it looks like those legal requirements are a factor whether or not money is involved.