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Furnished holiday properties - less relief from death duty?

It has been generally accepted for some time that individuals were able to pass on interests in furnished holiday let properties and caravan sites, free from inheritance tax, provided that:

  •  the lettings were short-term; and
  •  the owner played a significant role in managing or overseeing the lettings.

HM Revenue & Customs have just announced that this is potentially not their view going forward and that some cases which qualified in the past might not do so in future.

Little further guidance is supplied; when it is, we will provide details and our thoughts on the Revenue’s change of view.



Date: 18th November, 2008
Author: David Mansell


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