The final period exemption used to allow people 3 years to sell a previous only or main residence after moving out without losing the private residence relief. This has just changed.
The final period exemption exists to allow people some flexibility when, for whatever reason, there is a gap between moving out of your main home, and actually selling it.
However the period of exemption has been halved to just 18 months for any disposals made on or after 6th April 2014. The previous period of 3 years is retained only where the individual is disabled or a long-term resident in a care home.
Don’t get caught out!!