Hi, wonder if anyone can asssist on this please?
I have a client who runs a business from home and it has been formally deemed by the rateable value etc that the property is 40% business and 60% private.
The property is jointly owned by a husband and wife who are looking to sell it - I was going to do a simple CGT computation to show 40% of the gain being taxable less costs of purchase and sale etc and give two annual exemptions. I've now had another thought - as the business is a soletrader in the husband's name, yet the property is jointly owned is it correct to claim two exemptions or one - I can see an argument both ways!
Any thoughts greatly appreciated