Net tightens on Inheritance Tax relief for Furnished Holiday Lets
HMRC have recently won a tribunal decision that confirms that inheritance tax relief will only be available on furnished holiday lets (FHL) in exceptional circumstances. Simon Dixon Smith of Land Partners comments ‘the newly released case of Green v HMRC confirms that the majority of holiday lettings businesses will not attract inheritance tax relief. This will be costly to the families of holiday cottage owners’. It is estimated that there are over 75,000 units of FHL in the UK. Many of these will have been purchased for the primary benefit of the owners with holiday lets offered as a way...
Read MoreProperties on the market
A new month and a new page added to the Land Partners website with the launch of two properties to the market – one for sale and one to let. Land Partners’ first foray into the land sales market comprises a block of c.85 acres of predominantly arable land near Cambridge. The land is classified Grade 2 and is good cereal growing land in a convenient location. Interest has already been strong and further interest is anticipated following on from the advert in the Farmers Weekly on 6th July. The land is available at a guide of £700,000. On the lettings front, Kentishes Farmhouse is a handsome...
Read More