Good evening, I wonder if anyone can clarify something for me please.
I own half a dozen properties, 2 individually, 2 with one person and 2 with another and have them all rented out.
I am looking to sell one of the properties which is owned with another individual.
Someone has mentioned Entrepreneurs Relief or Business Asset Roll Over Relief as being available in order to reduce the CGT on the sale of the property.
My question would be do I and my property qualify for ER or BAROR?
Purchase price (inc all fees etc) = 292,281
Projected sale price (less fees etc) = 398,000
Total potential gain = 105,719
Neither of us has used our CGT allowance for the year, nor have either of us lived there enabling us to claim PPR.
We are not yet decided upon what we would be doing with the proceeds as of yet.
Any help is much appreciated. I have read some of the HMRC regulations but cannot see anything which would clarify whether my part time property rental 'business' would cover me for ER.
Many thanks for your time.
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