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Business Property relief

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA TX-UK Exams › Business Property relief

  • This topic has 2 replies, 2 voices, and was last updated 9 years ago by Adam.
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  • June 8, 2016 at 10:05 pm #321215
    Adam
    Member
    • Topics: 12
    • Replies: 15
    • ☆

    I a sole trader owns an asset used for trading does this qualify for 50 or 100% relief?

    June 9, 2016 at 2:45 am #321273
    Tax Tutor
    Member
    • Topics: 2
    • Replies: 3965
    • ☆☆☆☆☆

    If you are a sole trader and have owned the business asset for the required 2 years then BPR will be available at 100%. If you are a partner personally owning a business asset that is used in the partnership then only 50% BPR will be available

    June 9, 2016 at 8:03 am #321331
    Adam
    Member
    • Topics: 12
    • Replies: 15
    • ☆

    Thank you for clarification. Now feel ready for p6.

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