The taxation of profit from furnished holiday lets (FHL) could be termed a ‘hybrid’ of taxes. The operation of a FHL is deemed to be a business and not a property income investment, and as such the usual business income and expenditure accounts are prepared. Benefits of treatment as a holiday let This treatment creates …
When it comes to let properties, furnished holiday lettings (FHL) are a special case and benefit from a number of concessions not available to standard lets. The concessions are only available if the property meets the tax tests to qualify it as a furnished holiday letting – the fact that it may be let out …
Capital allowances and furnished holiday lettings Read More »
Furnished holiday lettings offer a number of tax advantages over longer lets. One of the key benefits is the availability of capital gains tax reliefs available to traders, including rollover relief and business asset disposal relief. Business asset rollover relief Business asset rollover relief is a significant benefit of having a furnished holiday let rather …
What are the tax advantages of furnished holiday lettings? Read More »
