IHT holiday home ruling

The Telegraph reports that thousands of holiday home owners, who rent out their properties, face paying IHT after a test case ruling.

HMRC persuaded High Court judges that a large bungalow overlooking the sea on the Suffolk coast was an investment rather than a business and therefore subject to IHT.

Source: The Daily Telegraph

We say: Shh! Did you hear it too? Could it be the soft, manicured hands of Treasury Officials gently rubbing in anticipation? The faraway cheer of Welsh Nationalists at this unexpected swipe at holiday homeowners? Or simply the papers from the previous Pawson case, where First-tier Tribunal ruled in the opposite direction, being thrown in the bin? (Sorry, sorry, not the bin….the secure paper-shredding and recycling box…)

So we have a bit of clarity at last on furnished holiday lettings. But we’ve got our money on the shrewd taxpayer just looking into other ways to keep HMRC’s Paws off their wealth. (See what we did there?…Pawson…Paws…geddit?)

NICOLA HALL

BILSHAN MENSAH

Sam Inkersole

In 2022, Sam won the Taxation’s Rising Star award at the Taxation Awards in and was named in the Accountancy Age 35 Under 35.

Jon Wedge

While Jon’s client work focuses on the financial services sector, he also oversees the firm’s assurance service, as well as supporting the trainees following in his footsteps.

ELANA DIMMER

Elana joined us in 2017 as an ACA trainee, after graduating from Durham University where she had studied languages. She is now a manager in our assurance team.

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