commercial property

[Herbs16]

hi
a sole trader hairdresser has just sold her hair salon with a gain of £70k, it has been rented throughout.
I don't think any reliefs are available, does anyone else know of any? im assuming letting relief isn't allowable? never been a PRR

thanks

[jpcentral]

You say sole trader so has she been trading from the premises?

Look at Entrepreneurs Relief.

[section 44]

As described, I suspect that there is an individual selling her hairdressing business, which she ran from premises that she rented.

Presumably the sale is of goodwill, stock, equipment etc and the premises are rented at a market rent with the lease having no capital value.

... of course the could be something else going on.

This:

im assuming letting relief isn't allowable? never been a PRR

Sounds odd and suggests that perhaps the individual had a property letting business and is merely disposing of an investment property.

rented throughout

Perhaps meant "let" throughout?

But then, what trade?

a sole trader hairdresser

or perhaps this is a red herring and the seller of the let property also happened to be a hairdresser, unrelated to this