Entrepreneurs relief on guest house

Entrepreneurs relief on guest house

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I have given the usual PPR and lettings relief against the gain on sale of a guest house.  During the life of the business, it was, or course treated as a trade, but when it is sold it has the advantage of the lettings relief.  However, as a trade I believe the final net gain should qualify for ER, but it seems to me like the client would be having his cake and eating it to get both lettings AND ER.  Can't find the answer in manuals.  Anyone have the definitive answer out there?

Thank you.

Replies (2)

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By gbuckell
26th Jul 2012 18:35

Yes

No reason why both reliefs cannot be claimed.

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By mackthefork
26th Jul 2012 23:53

i'm sure I'm being dumb.....

I can see why PPR relief applies, but where does the lettings relief come from?

Regards

MtF

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