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Business Property Relief on Furnished Holiday Lets

The availability of Business Property Relief (BPR) for owners of furnished holiday lets (FHLs) has been put in doubt by a recent decision of the First Tier Tax Tribunal.  The Ross case focuses on whether a FHL can qualify for 100 per cent inheritance tax relief. 

HMRC challenged the taxpayer on the grounds that the level and standard of ancillary services were insufficient and also irrelevant.  The tribunal judge agreed with HMRC that the quantity and cost of the activities provided by the taxpayer were insufficient to overturn the view that the business was mainly to do with the letting of land rather than the provision of holiday services.  It may still be appealed, but members are advised to take advice from their professional tax advisers on availability of taxation reliefs.

 

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