London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

No business property relief on lettings business

In a recent decision (Green v HMRC [2015] UKFTT 0236 (TC)) the First Tier Tax Tribunal (FTT) held that inheritance tax business property relief (BPR) did not apply to a furnished holiday letting business.

The FTT looked at the activity in a lot of detail, considering the nature of the additional services offered to guests and assessing the extent to which guests were actually paying for such services or were simply paying to stay in the accommodation.  The FTT came to the conclusion that the furnished holiday lets were an investment and that only minor hotel-like services were offered to guests.

 

 

Date: 2nd July, 2015
Author: Cathy Corns

SHARE THIS

Articles from this Author

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.

Tweet

Mercer & Hole’s Robert Jamieson wins a Lifetime Achievement Award at the Tolley’s Taxation Awards 2018… twitter.com/i/web/status/9…

The final award of the evening goes to the one and only Robert Jamieson who wins the #TaxAwards2018 Lifetime Achiev… twitter.com/i/web/status/9…

Follow

LinkedIn

For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn