Self Emlpoyed Property Developement Business

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  • #31690
    Clare Easson
    Participant

    We have a claim where the claimant & partner run a SE business which involves property developement. Their SE business currently own 6 properties and they have loans outstanding for each of them. Zebedee states that because the properties are business assets, they should be disgeradede. I just wanted to check if anyone else had any different angle to look at this, as essentially, they have capital over £16k however its part of the SE business.

    #88628
    Anonymous
    Guest

    From your description I think it would be correct in this case to view the properties as business assets and disregard them. I think a useful question is “Why does the claimant own this property?” and the answer here is surely “because he is hoping to sell it for a profit, and that is how he earns his living”

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