IHT and holiday lettings: A (rare!) business property relief success

Inheritance tax (IHT) relief at the rate of 100% is an attractive proposition. Business property relief (BPR) is available to business owners if certain conditions are satisfied. BPR at the 100% rate applies to ‘relevant business property’ including a business or interest in a business (in certain other cases, BPR is available at 50% instead). […]

IHT and holiday lettings: A (rare!) business property relief success

Inheritance tax (IHT) relief at the rate of 100% is an attractive proposition. Business property relief (BPR) is available to business owners if certain conditions are satisfied. BPR at the 100% rate applies to ‘relevant business property’ including a business or interest in a business (in certain other cases, BPR is available at 50% instead). […]

Holiday villa accommodation: Is it ‘commercial’?

Property businesses that provide residential accommodation tend to be profitable in most cases. However, unfortunately losses sometimes arise. For example, an individual may incur losses in the early years of their UK rental property business. Such a loss can generally be carried forward for offset against future profits. Alternatively, in some cases the loss may […]

Holiday villa accommodation: Is it ‘commercial’?

Property businesses that provide residential accommodation tend to be profitable in most cases. However, unfortunately losses sometimes arise. For example, an individual may incur losses in the early years of their UK rental property business. Such a loss can generally be carried forward for offset against future profits. Alternatively, in some cases the loss may […]