Sign up to get our free landlord tax strategies


To receive our seven FREE landlord tax saving strategies just simply complete the form below and the first strategy will be emailed to you immediately.

Sign up to get our free landlord tax strategies

Thank You!

Seven FREE property tax busting strategies reveal the secrets of how to legitimately beat the taxman and boost your property profits!
View All Questions

Will my client be able to claim residential lettings relief?

Question My client inherited a one-half share in residential property when her father died in 2003. My client's mother (the widow) owned the other half share and lived there alone until her death in 2015. My client inherited the other half interest from her mother and has lived in the property since April 2016. When my client eventually sells the property will she be entitled to claim any residential lettings relief even though no rent passed from her mother and no formal tenancy agreement was in place?
 
Arthur Weller replies:
Your client will not be able to claim any residential lettings relief, because HMRC make it clear (see the end of www.gov.uk/hmrc-internal-manuals/capital-gains-manual/cg64713 that this relief is only claimable when the property is rented out commercially. 

Property Tax Insider This sample question and answer is taken from Property Tax Insider, a monthly UK tax saving magazine for landlords and property investors.

The first issue is free so click here to try today!

Got a burning tax question?

Why not submit a tax question to our tax advisors

Ask a Question