BPR on comeercial premises owned by Directors

[Howson]

If a commercial premises is (part) owned by a married couple in their personal names, and they rent this to their own Ltd Company business - would this qualify for BPR in full or part please ?
They receive rental income from the Ltd Company business
They are 50/50 Directors
The commercial premises are owned 25% each, with the other 50% owned by other individuals, not involved in the Ltd Company business.

Thank you forum

[AdamS93]

No.

They will need to stop charging rent and even then I think they will only qualify for 50% BPR (i think).

They should either sell (CGT and SDLT considerations) to the company or gift it to the company (CGT and IHT as a Chargeable lifetime transfer to consider).