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In 1965 our client inherited a public house and adjoining living accommodation. A condition of the legacy was that it would ultimately pass to her eldest son now aged 35.
Until 1985 our client traded as a sole owner. From 1985 until March 2000 the public house and the living accommodation were leased at a commercial rent. In March our client decided not to renew either lease and resumed self employment as a publican.
Our client no longer wishes to be involved in the management of the business and plans to transfer the property and business to her son as soon as is possible. She is willing to be employed on a part-time basis.
The property and business have been valued in the region of £360 000. The same property would have had a March 1982 valuation of £160 000. Our client incurred costs in the region of...
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