Do Furnished Holiday Lets qualify for business property relief

Do Furnished Holiday Lets qualify for business...

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Do Furnished Holiday Lets qualify for business property relief for inheritance tax purposes.

Regards

Joe Reid

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By gbuckell
05th Sep 2012 14:02

Maybe

There is no special rule deeming FHL to qualify for BPR. Each case must be looked at on its own merits. Generally the view is there must be something more than a mere letting to qualify. There was a recent tribunal case where the taxpayer won (name escapes me!).

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By Steve Kesby
05th Sep 2012 12:43

Aren't HMRC appealling

That wasn't actually a statement.  It just amused me leaving the question mark off.

Aren't HMRC apealling Pawson, or did I dream it? <-- Definite question.

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By gbuckell
05th Sep 2012 14:01

Appeal

According to this website, HMRC has been refused permission to appeal which I find surprising.

http://www.holidayhomeinformation.co.uk/uk/tax-issues/good-news-for-owners-of-furnished-holiday-lets.html

 

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Northumberland flag
By MJShone
05th Sep 2012 14:14

Pawson appeal

The appeal is on the list of forthcoming hearings, listed for 18 December...

http://www.justice.gov.uk/downloads/tribunals/tax-and-chancery-upper-tribunal-/hearings-register.pdf

 

 

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By tonycourt
05th Sep 2012 14:56

HMRC are appealing (an oxymoron I think) - in the meantime....

While we wait the Pawson appeal (which I'm taking bets on that HMRC will win) the position remains that, as the first respondent to the OP commented, it depends on the circumstances.

To put a little flesh on those bones I would say that adding other services such as laundry, arranging tours/trips to local places of interest etc either directly or through an agent, a grocery supply service and so on, would all help the BPR cause. This would, of course, need to be the situation for two years before BPR kicked in.

TC 

 

 

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By gbuckell
06th Sep 2012 10:52

Hidden information

Well done to MJShone for finding the official list. I tried going to the same website earlier without success. Armed with MJShone's link I tried again to navigate to that link from the site's home page but still failed!!

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