I am a Newby here and terminology may not be correct so please go easy on me!
I have had a large BTL portfolio split 50/50 with my wife for circa 15 years. We are highly leveraged and the new tax rules (s24) are going to make life very difficult for us so time to sell. I have paid for lots of professional advice but am very wary of jumping in to things that may not be right such as BICTS, HYBRIDS etc. I could go ltd but being honest, I am done with it all and looking for the exit:
Is it possible to make some of my BTL properties into holiday let’s to pay less CGT?
I see a lot of Airbnb flats in some ex council areas (where most of my flats are) which makes little sense. They are cheap and probably comply with all holiday let rules but I don’t see them as great money spinners!
are landlords changing their BTL to airbnbs, running them for a year then selling but paying only 10% CGT assuming they are eligible for entrepreneurs relief?
I am selling at least 25 pre s24 and this technique would save me a lot of money, however only 3 would genuinely be considered by myself as good holiday lets; converting these 3 would still save me £100k
Thanks for reading and appreciate good advice
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