Readers’ forum: Farmhouse fractions

My clients are four brothers who trade as two farming partnerships. All brothers are partners in each business. One partnership operates two farms and the other runs a different one. Each partner has a 25% share of income and capital. The brothers are considering whether to sell all their farming businesses and I am looking at the potential capital gains tax liability on each partner.

My question is on the entitlement to only or main residence relief on the farmhouses. There are four farmhouses each of which is occupied by one of the partners and their family. My questions are as follows.

• Would the sale of each farmhouse qualify for full main residence relief because they are each the home of a partner?
• Alternatively would only a quarter of each house qualify for relief on the basis that each partner owns...