John Sydney

I am a commercial property landlord. I have always rented the property on a commercial lease. In 2023 i ceased letting the property following a surrender of the lease by operation of law. I then moved into the property for my own domestic purposes. Do I need to calculate the gain on the day i stopped leasing the property as in https://www.gov.uk/hmrc-internal-manuals/business-income-manual/bim80500

Thanks for you response, please could I ask for clarification including BADR. 1. we owned the freehold and the goodwill, since 2007 as private individuals 2. we never ran the pub ourselves (as individuals) 3. We only ever rented it out. first to our own limited company 4. then we had 3 sets of consecutive tenants 5. On the 23rd July 2023, the last tenant left 6. On 23rd July 2023 our business ( as commercial landlords ) ceased, and we moved into the pub, occupying it as our main residence. Questions: 1.Can we now claim BADR on the cessation of our business, as of the 23rd July 2023? 2.As we moved into the pub and occupied as a main residence within 3 months of selling our previous main residence, can we now say the pub is our legal main residence? I have obtained a valuation to confirm the properties value.

We sold our main residence in 2023, and moved into a pub that we have owned since 2007. We are aware that when we sell the pub we have to pay CGT on the gain. But,, we may be applying for change of use to residential, in which case this will be a our main residence. So how will CGT be calculated? Do I need to get a valuation when change of use is granted, and pay CGT on that gain, or will i be liable for CGT on the whole gain when the property is sold, will I get main resident relief on the building when sold. can you signpost me to the relevant section of the CGT manual please.