Jurisdiction(s):
United Kingdom

Key definition

Business premises definition

What does Business premises mean? In practice, business premises are the place or places from which a trader operates, whether a fixed site (for example, a shop or office) or a mobile site (such as a market stall or vehicle) used in the trader’s normal course of business. In consumer protection law this term is defined. In the UK (Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013) and in Ireland (European Union (Consumer Information, Cancellation and Other Rights) Regulations 2013), a trader’s business premises means: - immovable retail premises where the activity of the trader is carried out on a permanent basis; or - movable...

UK CGT: furnished holiday lettings (FHL) versus buy-to-let—qualification, 31-day rules, averaging/period-of-grace, and business reliefs (roll-over, hold-over, BADR, incorporation)

Published by a LexisNexis Private Client expert

Practice notes

Business asset

capital gains tax (CGT) may fall due when you realise a gain on the disposal of all or part of a business asset. A business asset is any asset connected to a trade or business, owned by an individual or the business. Examples include:

a factory
farm buildings
agricultural land
plant and machinery
a furnished holiday letting (FHL)
shares
registered trade marks

Business assets may benefit from CGT reliefs; investment assets do not. Reliefs can apply where the asset has been used for business purposes.

Furnished holiday accommodation

For a property to qualify as an FHL and benefit from CGT relief, it must be:

in the UK or the European Economic Area (EEA)
furnished with sufficient furniture for use as holiday accommodation
available to the public for commercial holiday letting for at least 210 days (the availability condition)
commercially let as holiday accommodation for at least 105 days a year (the occupancy condition)
let at market rent
let on short-term arrangements not exceeding 31 days

‘Commercial’ means it is let on a commercial basis...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 28/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...