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Not every client thinks so logically in the quest for saving taxes. You may be surprised how may people ask if their IP can be partially / fully exempt when its sold if they elect it to be their MR instead of where they actually live.

Provided both were actually a residence ! You cant choose a MRE for a property that wasn't a residence at any time. A taxpayer can however choose (elect) which property will be taxed if both are eligible for a partial MRE. That always comes with a decision - If you lessen CGT now the other...

Not true. You can self assess provided you have sufficient reliable basis to do so. You need data and evidence to defend your position if asked. A formal valuation is not required. RP Data ?? Sales History in 2006 ? Comparative properties ? Written REA opinion ?