Client is disposing of a property which he lived in but also used part of the property exclusively for business. Approx 80% was private use and 20% of the property was used for business so there will be some CGT to pay on the part of the gain that relates to that business use. It does not qualify for entrepreneurs relief and any private use of the business bit was insignificant.
On the capital gain relating to the business bit of the property would this assessed at 10%/20% or 18%/28%?
Replies (3)
Please login or register to join the discussion.
Sch 1B.
You should work the answer out for yourself, based on all the facts (rather than take any proffered here, based on b***** all), but note the "suitable for use" clause in para5(1)(a).
I don't think it's that technical. If the thing being sold is a residential property, then the residential property rates apply.