Can anyone help? I have a potential client who is selling a guest house that is soley a guest house, not lived in by the seller.
If this is sold, what are the current CGT implications, can the seller claim entrepreneurs relief on the entire sale including the building?
Any help greatly appreciated.
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So, based on those three paragraphs of research, have you any thoughts? (It helps respondents to explain, not just to tell, if OPs provide some of their thinking. IMHO, responses that explain are far more useful. And far more checkable - if you're simply told something, how do you know if it's right or wrong? If it's explained, you can review the explanation.)
Think more information is needed - is this guest house run similar to a B&B, or does it meet the Furnished Holiday Let tests?