Wills & Trusts Law Reports | October 2015 # 153Mrs Green ran a business known as Flagstaff Holidays (the business) which let five units of self-contained holiday accommodation in a property known as Flagstaff House, Burnham Overy Staithe, King’s Lynn, Norfolk (the property). Mrs Green had bought the property for £900,000 in 2003. Between 2009-2012, the property was let for a total of around 650 to 750 nights a year. At all relevant times, Mrs Green lived in Woodbridge, Suffolk. On 2 February 2010, the property was valued by a firm of estate agents at £1.9m on a vacant possession basis.
On 5 April 2010, Mrs Green settled ...
Elizabeth Wilson examines the lessons of McCall & anor v HMRCC The case of McCall & anor v HMRCC [2011] provides useful guidance on IHT business property relief for ‘hybrid’ landowning businesses such as seasonal grazing ‘lets’ where the landowner remains in legal and factual occupation of the land used in the business, but is …
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