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Which holiday home owners are entitled to entrepreneurs’ relief?
I act on behalf of a husband and wife who own a seaside property as well as their main residence. The seaside house has never been used as their main residence and has always been let out.
For the past 10 years the lettings have fallen within the furnished holiday lettings parameters. The property is owned in joint names but the lettings have always been declared in the wife’s name because she runs the business arranges lettings advertising and supervises repairs because her husband is in full-time employment.
The clients are planning to sell the property but I am concerned as to the availability of entrepreneurs’ relief. Will it relate only to the wife’s share or is there time for the husband to become entitled to the relief?
Query 18 518 – Sandman
Reply from Joe 90
Under exception D of ITA 2007 ...
