CGT - PPR on house portion of resteraunt

apj101

Hi
My folks are selling there there restaurant/pub...owned for 3-4 years
Paid £345k for the pub/restaurant and the upstairs living quarters

Will sell soon for £900k
If fine working out most of the gain and reliefs...BUT

shouldn't they get PPR relief on the private quarter element of the property....and how would they go about quantifying this in a manner that will satisfy HMRC.

WHA

You need the purchase and sale prices apportioned properly between the restaurant land & buildings, the private accommodation land & buildings, goodwill, fixtures & fittings, etc. To get the values for the land & buildings, you need a professional valuation from a surveyor at the time of sale and purchase, and your surveyor will have to be prepared to argue his values with the HMRC district valuer. I think you'll find that a lot of the increase in value will be down to goodwill, especially if the business has been built up.