On any sale of the property, as a company asset, it would be taxed within the company, which may cause issues if the company no longer has any income and would not be able to pay the capital gains tax.
The principal private residence exemption may not apply if the objects of the company have not been changed to accommodate the possibility of holding a private residence.
However, the tax due would be different whether the company was liable to corporation tax or the business profits liable to income tax. In that case some abatements could apply but conditions would apply for these to be granted.
As such, one would advise consulting a professional who can look at the totality of the facts.
Reader's query answered by Hugh MacDonald
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