Section 50 relief

Question asked:


Hi Alan, a block of apartments which qualified for Section 50 relief were sold by the developer to Mr A in 2007. Mr A let them for a number of years and then got into financial difficulties. We do not believe he claimed any Section 50 relief as the developer confirms that no such paperwork was ever forwarded to him. My client purchased the block of apartments at a significantly reduced price in 2015. He is also not claiming Section 50 relief as they are not used for the provision of student accommodation.
My question is – If my client was to sell the block of apartments in a number of years time would Section 50 relief still be available to the purchaser? If they were this would enhance the value of the units.
Thanks, Brian

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Asked on 14 July 2017 12:21 pm