UPPER TRIBUNAL REVERSES FTT IN HOLIDAY LET CASE

摘要

The Upper Tribunal has overturned a First Tier Tribunal decision on business property relief (BPR) in CRC v Lockyer and Robertson (as the personal representatives of Pawson, deceased) ruling that BPR was not available on the deceased's holiday bungalow as it had been held 'mainly as an investment'. The Upper Tribunal's decision had been eagerly awaited as Lockyer and Robertson, representing the deceased, had had a somewhat surprising victory at the FTT; raising the possibility that furnished holiday lets, where only minimal services were provided, would qualify for BPR.