Editor's note: This brief was summarised by The Property AI Team from a report by Letting Agent Today. Read the original article for full details.
Agency owners wanting to sell have key April deadline
Estate and lettings agency owners thinking about selling should start planning now, according to an industry sales service. Lucy Noonan, founder of Atomic Consultancy, says announcements at this week's Budget mean the lifetime limit for Business Asset Disposal Relief (BADR) will be halved from £1m to £500,000 in spring.
For agency owners, the change puts a focus on timing. Those considering an exit may wish to review their plans ahead of the spring deadline, given the reduction in the BADR lifetime limit reported by Letting Agent Today.
The brief is based solely on the headline report. No further details on the Budget measures, eligibility, or the exact date of the change were included in the source item.
Source: Letting Agent Today