Section 23 relief apportioned ...

tradingwizz · 2017-06-09 18:36:30

Hi I'm buying a Section 23 with a business partner 50/50. He has no interest in the Section 23, primarily since he is buying his share through his business, so he can't make use of it anyway. My question is, even though I am buying just 50% of the property, can I still make use of the full 100% relief if he agrees to it?

09-06-2017 06:36PM

#1
tradingwizz

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Hi

I'm buying a Section 23 with a business partner 50/50. He has no interest in the Section 23, primarily since he is buying his share through his business, so he can't make use of it anyway.

My question is, even though I am buying just 50% of the property, can I still make use of the full 100% relief if he agrees to it?

Tagged:

tax

relief

section 23

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Comments

#2 10-06-2017 08:25PM

Lockedout2

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You should ask your accountant so should your business partner.

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#3 11-06-2017 12:36AM

tradingwizz

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I did - I was hoping to get find someone who could offer their experience

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#4 11-06-2017 11:53AM

Lockedout2

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What did they say?

The allowances go to the owner?

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#5 11-06-2017 01:27PM

tradingwizz

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There is no chapter and verse in the legislation which is why I was hoping to hear from someone who has done something similar already.

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