Furnished holiday lettings – is it worth qualifying?

2019-09-02T11:32:21+01:00July 23rd, 2019|Categories: Articles & Guides, Blog, Property|Tags: , , |

When it comes to taxing rental income, not all properties are equal. Different rules apply to properties which meet the definition of ‘furnished holiday lettings’ (FHLs). While the rules now are not as generous as they once were, they still offer a number of tax advantages over other types of let. Advantages Properties that count as FHLs benefit from: capital gains tax reliefs for traders (business asset rollover relief, entrepreneurs’ relief, relief for business assets and relief for loans for traders); and plant and machinery capital allowances on items such as furniture, fixtures and fittings. In addition, the profits [...]