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Taper Relief, Business/Non Business

If a property is sold of which the ground floor was a business premises the owner ran, and the first floor was a flat let for residential purposes. How do I go about determining the split for taper purposes? I need to determine what proportion to claim business taper and what proportion to claim non-business taper.
Do I need the advice of an expert to determine this, or the estate agent who disposed of the property?
Paul

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17th Jul 2006 12:28

mixed use - taper
Paul presumably you would wish to attribute a larger proportion of the gain to the business premises, to maximise taper?
I think I would find out how much rent ( and council tax) the flat was generating and compare that with what the business premises would have fetched(including business rates).I am sure the estate agent would be familiar with business rents/rates in the area. The business income is likely to exceed the rental income - you could split the gain accordingly eg flat £200/£500;shop £300/£500. Elaine

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