Client company (commercial property landlord)about to sell one of its investment properties (mainly offices but some ground floor retail), which is let out on a commercial basis to a number of tenants. On the basis that the company will continue to trade with reduced rental incomes on remaining properties - any way in which corp tax on this gain can be deferred/rolled over? Comments or pointers would be appreciated.
Tony Turner
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not really
A property that is let out to tenants is not used in the trade of the landlord company. The roll over provisions are therefore not applicable. A commercial property landlord company is in business but does not trade.