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Sale of property

Resident property was a FHL at some point

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Client is selling their BTL, they have owned it for 10 years. 3 of the 10 it was held as a FHL and I am wondering if the gain is split between 7/10 & 3/10 and the latter part of the gain subject to BADR, even though it was in years 4/5/6 it was a FHL? Something is telling me we can't do that but need to be sure. 

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By David Ex
21st Oct 2021 14:40

Jigs wrote:

Something is telling me we can't do that but need to be sure. 

What’s telling you that? Legislation? HMRC guidance?

You need to look up the qualifying conditions for BADR and apply them to your client’s circumstances.

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By SteveHa
21st Oct 2021 15:05

TCGA S169H etc. Without reading through it all again, I'd say where's the trading qualification?

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Replying to SteveHa:
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By richard thomas
21st Oct 2021 23:02

Section 241(3A) TCGA?

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Replying to richard thomas:
By SteveHa
22nd Oct 2021 10:17

Good call. I did say I wasn't reading through it all again.

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