Inv property, now FHL ?

Inv property, now FHL ?

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A property has been owned for 10 years.  the first 9.5 years it was let under a short assured tenancies.

it is now being used as a FHL.

It is owned jointly by H&W, who are a vat registered partnerhsip (farmers).

Q, if H&W now gift part of the property to son, would gift releif be available?  or would it be restricted for non trade use?

Q, would the fact that the fhl business is now run as a business by three individuals result in no vat being chargeable (as under registration threshold)

Q, if the property was sold next year would H&W qualify for ER on 100% of the gain?

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By blok
22nd Nov 2012 16:39

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