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Our client is the owner and director of a residential property investment company with a portfolio of more than 20 properties.
The company has received notice of enfranchisement from the tenants of one of the properties to exercise their right to acquire the freehold of the premises under the Leasehold Reform Housing and Urban Development Act 1993 s 13.
I read the article ‘Looking for relief’ by Barrie Akin (Taxation 7 September 2006 page 630) which suggests that rollover relief may be available under TCGA 1992 s 247 s 247A and s 248 even though this relief was designed for compulsory purchase orders. Could readers advise if this is applicable to my client’s circumstances?
The same director client also has a residential property trading company.
Are readers aware of any relief for a similar forced sale of...
