UK Resident Individual
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Frequently Asked Questions
I am thinking of selling my commercial investment. I understand that some relief is available. Can you help?
The percentage of the gain chargeable to tax is reduced by Taper Relief. There are two rates of taper relief. The Taper Relief for "Business Assets" is much more generous than it is for "non-business assets". Owners of residential properties may only claim the non-business asset rates of relief. Some owners of commercial property may claim the higher rate of Taper Relief for Business Assets if the tenant has been a qualifying company.
Many thousands of pages have been written on the subject of taxation. It is therefore impossible to give anything other than the roughest outline in a document such as this. There are many exceptions and rules other than those described above. You should not rely on the foregoing. You should always take professional advice specific to your circumstances. We would be pleased to advise our clients upon request.