Furnished holiday lets and IHT relief
|Category|| Technical Articles
Article by Julie Butler FCA of Butler & Co. This article appeared in the September 2006 issue of Tax Adviser. It is known in the tax world that furnished holiday lets may qualify for Business Property Relief for IHT, provded the owner plays an active part in the management of the tenancies.
Many clients can use this as an active tax-planning tool to ensure that existing property does qualify and to swap non-qualifying assets, eg let property, for the FHL.
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