Individuals who are joint owners of land may exchange interests so that each of them is sole owner of part of that land. Individuals who are sole owners of land may exchange their interests.

The method of computing chargeable gains on an exchange is explained at CG13090+.

Where an individual disposes of an interest in a dwelling-house which has at some time been their only or main residence, in exchange for an interest in another asset, private residence relief is due in the usual way on the dwelling-house sold. The value of the asset received is the measure of the consideration received for the disposal of the dwelling-house.

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