How to ‘flip’ like a pro

“Flipping” a home may be at the core of the MPs’ expenses scandal, but remains a good tax wheeze for people who own more than one property. Owners of “pied à terre” flats or holiday-homes can “flip” the status of their second property to become their main home and avoid thousands in capital gains tax (CGT) when they come to sell. Couples who move in together while keeping former homes can also benefit.

How it works