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You'd have to have pretty high inflation to cancel our a £144k cash profit over 10 years or so
Isn't the point that in the usual way of things (i.e. people move to bigger houses over their life) the house that you might want to buy has gone up by more than £144k?
I think the only way that primary residence CGT works is if you are allowed roll it to the next property to the extent that you recycle the proceeds of one house sale into another. But in that case it looks like IHT anyway.
NickCJ
In my example you'd still be making a £144k profit. Maybe deduct SD as a maintenance cost or scrap SDLT altogether. As for inflation, cry me a river. You'd have to have pretty high inflation to cancel our a £144k cash profit over 10 years or so. Besides, it's not cash you had for that ten years. The gain only appears when you realise the equity in your property.