Would a partnership with 29 tenancies be able to claim retirement relief?

We’ve been working at our property rental business since the 80’s and now have 24 flats and an HMO with 5 tenants. I had hoped to move them into a limited company but thanks to Dan Neidle that’s no longer an option.

My husband has Parkinson’s and I just can’t handle it all as I did when I was younger so I’m just trying to work out the best exit strategy. I have been looking at retirement relief but don’t fully understand If it would apply to us.

We seem to be penalised at every turn, landlords seem to be considered pariahs as far as the government and tax regime are concerned.

Any suggestions are gratefully received and happy New Year to you all ?

Linda

Editor’s Note:

Retirement relief, (now Entrepreneur’s Relief, and recently renamed to Business Asset Disposal Relief in the UK) applies under specific conditions. Generally, it allows you to pay a reduced rate of Capital Gains Tax (10%) when selling or disposing of business assets, but it’s typically available for trading businesses, not passive investments as Landlords are incorrectly labelled by HMRC.