Capital Gains

With correct planning it may be possible to secure a 10% tax rate on sale of a property if it has been used as serviced accommodation or holiday let for at least 2 years.

By Debbie Franklin, Director of Tax and property tax specialist

With correct planning it may be possible to secure a 10% tax rate on sale of a property if it has been used as serviced accommodation or holiday let for at least 2 years.

In addition, a for a gift of such a property, it is possible to hold over the capital gain until the recipient disposes of the property which may be useful when undertaking Inheritance Tax planning.

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