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Where Taxpayers and Advisers Meet

Holiday Let Purchase from Investments

gdall
Posts:1
Joined:Wed Jun 23, 2021 5:52 am
Holiday Let Purchase from Investments

Postby gdall » Wed Jun 23, 2021 6:10 am

Hello

I have investments (general investment account - stocks and shares) - can I purchase a holiday let property with this and it remain as an investment - rather than declaring that stocks and shares investment as closed/capitalised and paying capital gains tax. In other words i would lke to transfer from one investment to another (the holiday let) and not pay capital gains yet. If I can is there a special way I must handle these transactions and should I setup a holiday let type of company and any special records I should keep?

Thanks

AGoodman
Posts:1738
Joined:Fri May 16, 2014 3:47 pm

Re: Holiday Let Purchase from Investments

Postby AGoodman » Wed Jun 23, 2021 11:58 am

No, the relief you are looking for is "business asset rollover relief" and, to claim, the assets you are selling must be business assets.

Your stocks and shares will not qualify.


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