This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. To find out more about cookies on this website and how to delete cookies, see our Cookie Policy.
Analytics

Tools which collect anonymous data to enable us to see how visitors use our site and how it performs. We use this to improve our products, services and user experience.

Essential

Tools that enable essential services and functionality, including identity verification, service continuity and site security.

Where Taxpayers and Advisers Meet

Furnished Holiday Letting & Let relief for CGT

simpsonite
Posts: 96
Joined: Wed Jun 24, 2009 11:58 am

Furnished Holiday Letting & Let relief for CGT

Postby simpsonite » Thu Jan 05, 2017 12:09 pm

Hi all,
My client lived in his main residence for six years , he then moved out and converted the property into a Furnished Holiday Let. It was been let out as such ever since prior to sale in 15/16.
In addition to PPR relief. would my client also be entitled to let relief?

Let relief would normally follow on In addition to PPR relief where the property was let for 'residential use'. Does the fact that the property is now being let as a FHL have any bearing on the availability of Let relief for CGT purposes in this instance?

Thoughts much appreciated,

Simpsonite

pawncob
Posts: 4323
Joined: Wed Aug 06, 2008 4:06 pm
Location: West Sussex

Re: Furnished Holiday Letting & Let relief for CGT

Postby pawncob » Thu Jan 05, 2017 1:20 pm

With a pinch of salt take what I say, but don't exceed your RDA

bd6759
Posts: 3090
Joined: Sat Feb 01, 2014 3:26 pm

Re: Furnished Holiday Letting & Let relief for CGT

Postby bd6759 » Thu Jan 05, 2017 6:08 pm

The relief under s223(4) is for letting residential accommodation. I see no reason why why short term lets cannot be residential accommodation.

https://www.gov.uk/hmrc-internal-manual ... al/cg64713

simpsonite
Posts: 96
Joined: Wed Jun 24, 2009 11:58 am

Re: Furnished Holiday Letting & Let relief for CGT

Postby simpsonite » Fri Jan 06, 2017 12:24 pm

Thanks for that bd6759.

Owen V Elliot (1990) completely slipped my mind ;)

A FHL is going to be residential as would a guest house for short term letting purposes.


Return to “Capital Gains Tax, CGT”