After purchase: owning together, selling and tax

Joint tenants or tenants in common, Private Residence Relief and the 60-day rule.

Applies to: United Kingdom. Reviewed 2026-09-25.

Key takeaways

A gain on your main home is normally free of capital gains tax through Private Residence Relief.
A taxable gain on residential property must be reported and paid within 60 days.
As joint tenants the survivor inherits automatically; as tenants in common you own defined shares.

Owning together

Joint tenants own the whole home together and the survivor inherits automatically. Tenants in common each own a share that can be left in a will.

Cohabitants do not have the same rights as married couples on separation. A declaration of trust and wills give clarity.

Selling and tax

Private Residence Relief means you normally pay no capital gains tax when selling your main home, if the conditions are met.

If capital gains tax is due on UK residential property it must be reported and paid within 60 days of the sale.

Questions to ask

Do we need a declaration of trust if we contribute different amounts?

Red flags

Cohabitants buy without an agreement and without wills.

Sources

Joint property ownership (GOV.UK)
Tax when you sell your home (GOV.UK)
Report and pay your Capital Gains Tax (GOV.UK)