Holiday lets are entitled to IIHT Business Property Relief if they provide ‘exceptional service’
A furnished holiday letting business qualified for business property relief (BPR) from inheritance tax because it provided guests with an ‘exceptional level of service and amenities’, and so did not consist wholly or mainly of making or holding investments. So…
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No Inheritance Tax deduction for rent liability in Execs of Estate of D S Campbell Dec’d v HMRC
In Execs of Estate of D S Campbell Dec’d v HMRC [2018] TC06389, the First-Tier Tribunal held that outstanding rents on a lease related to the deceased’s business, were deductible in calculating the value of the Business Property Relief qualifying business…
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