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  • Tax

    Entrepreneurs capital gains tax

    Hi does anyone have any idea if landlords can claim the Entrepreneurs capital gains tax rate?  From the limited information I have read I can't see why ll's would not qualify but I've never seen it mentioned...

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    Hi Blueskies.

    My understanding, from my accountant some time back, is that a property company is an investment company as far as HMRC are concerned. Thus Entrepreneurs relief cannot be claimed.

    Also recent reductions in personal CT (18/28 reduced to 10/20) also does not apply. So in short, other than your personal allowance, your going to pay 18/28% on the gains from the company. As you can only get the company funds once in liquidation (assuming your closing it down), you may find it hard to spread gains over more than 1 tax year to benefit from the personal CT allowance. So tread carefully.

    As always, speak to a professional as I am not an accountant.

    Good luck

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    Thanks Phil... I did read it's not available to companies, but as I'm in a partnership with my husband and not a company I wonder if that makes a difference.  Yes, of course I will speak to a tax advisor when the time comes but I was just wondering if anyone here had any experience...

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    Sorry not available as property letting not considered a trade

    Deb

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    Debbie Franklin

    Director of Tax Peplows Limited

    CTA ACA FCCA