I have a client who is in the below situation:
Husband and wife personally own a hotel, out of which they run the business through a ltd company.
Someone has approached them and offered to rent the hotel for approx 100k a year with the view in 3 years of buying the building.
The client will not be involved at all they will just collect the rent - the perspective tenant has also said he would like to renovate the hotel in the first year and will spend approx 300k.
I need to brush up on the rules but im wondering if my client accepts and sells in three years if he will still get business asset relief on the sale of the hotel.
very grateful for any replies/input