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Holdover relief on office let

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This topic has been done to death, but I am getting a bit muddled up so would appreciate it if someone can confirm my thoughts:

A brother who owns 100% of an office that is let out passes 50% to his sister. Am I correct in saying this will not qualify for holdover relief as it is not considered a business?

Most other articles refer to residential lettings so thought there may be a small chance that being commercial property it could make a difference in terms of making it a business.  

The office has been let for 30 years approx and has always been held personally, not through a company.

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By David Ex
30th Aug 2021 16:26

https://www.rossmartin.co.uk/private-client-a-estate-planning/capital-ga...

“Qualifying assets for s165 hold-over relief

An asset or an interest in an asset used for the purposes of a trade, profession or vocation carried on …”.

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Replying to David Ex:
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By harpsong
30th Aug 2021 16:52

Hi, thanks, I saw that exact article which is why I am confused. I have read elsewhere that a residential let does not count as it is treated as an investment rather than a business

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By David Ex
30th Aug 2021 17:03

For some reason, I missed the crucial point:

“An asset or an interest in an asset used for the purposes of a trade, profession or vocation carried on by:
The donor
The donor's personal company”

It sounds as if your client uses the property as an investment rather than in a trade he carries on so would not be entitled to the relief. That same would be true of residential property let as an investment.

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