Inheritance Tax - HMRC challenges business property relief on furnished holiday lets

Furnished holiday let owners' entitlement to 100 per cent business property relief from inheritance tax has been put in doubt by the First Tier Tax Tribunal's ruling in Re the Estate of Marjorie Ross (2017 UKFTT 507 TC).

The tribunal judge agreed with HMRC that the quantity and cost of the services provided by the taxpayer were insufficient to make the business a trade rather than an investment asset. The decision may still be appealed.

Read full story on Saffery Champness website.