Jump to content
House Price Crash Forum
Sign in to follow this  
Mrs Bear

Holiday Lets (Aka Those 2Nd Homes)

Recommended Posts

Apologies if posted already.

Saw this in a 10 page budget summary Mr B got today:

"The plans to repeal the furnished holiday lettings provisions have been scrapped. However, the Government will undertake a consultation with a view to changing the existing tax treatment of furnished holiday lettings from April 2011. Changes expected include an increase in the number of days on which properties are either available for letting on a commercial basis or actually let. There may also be restrictions on the use of loss relief.'

AFAIK current rules say that a property must be available for letting for 140 days a year, and actually let for a minimum of 70, in order to qualify for current allowances.

In other words, you can have a nice little 2nd home available for your personal use for well over half the year - a luxury by anyone's standards - and still get all sorts of tax relief on it.

Maybe they're going to whack this one on the head after all.

Or at least give it a good slapping.

Share this post


Link to post
Share on other sites

Apologies if posted already.

Saw this in a 10 page budget summary Mr B got today:

"The plans to repeal the furnished holiday lettings provisions have been scrapped. However, the Government will undertake a consultation with a view to changing the existing tax treatment of furnished holiday lettings from April 2011. Changes expected include an increase in the number of days on which properties are either available for letting on a commercial basis or actually let. There may also be restrictions on the use of loss relief.'

AFAIK current rules say that a property must be available for letting for 140 days a year, and actually let for a minimum of 70, in order to qualify for current allowances.

In other words, you can have a nice little 2nd home available for your personal use for well over half the year - a luxury by anyone's standards - and still get all sorts of tax relief on it.

Maybe they're going to whack this one on the head after all.

Or at least give it a good slapping.

Let's wait and see shall we

tim

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 261 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.