Share this content

CGT on Furnished Holiday Let

CGT on Furnished Holiday Let

Didn't find your answer?

Some 18 months ago I advised a client who wished to transfer a Furnished Holiday let to his children. I explained the reliefs available. The client has just come back to me advising that he applied for holdover relief with his children, but HMRC have advised that as one of the children was resident overseas, the claim is denied for that person. This was not mentioned by the client at the time. Is it possible to claim for entrepeneurs relief on disposal of part of an asset to one child and holdover relief for the disposal of the other part or parts. I cannot find any guidance in this area and I would be grateful for advice. 

Replies (1)

Please login or register to join the discussion.

Portia profile image
By Portia Nina Levin
15th Dec 2015 12:14

Yes. What you are actually claiming is ER on the whole gain. It is just that that gain has been reduced by the amount of holdover relief given. Obviously you need to make sure that the ER claim is made within the time limit, which is fast approaching if the transfer took place in 2013/14.

Thanks (1)
Share this content