Lockdown 2.0 – Can your holiday let still count as a FHL?

Hard on the heels of a series of local lockdowns, England entered into a second national lockdown from 5 November 2020 to 2 December 2020. Separate restrictions applied to Scotland,…

Continue Reading Lockdown 2.0 – Can your holiday let still count as a FHL?

If you have a holiday let but are worried you won’t meet the occupancy test this year, all is not lost. There are two routes by which it may be possible to reach the required occupancy threshold – an averaging election or a period of grace election.

Furnished holiday lettings – What can you do if you fail to meet the occupancy tests due to the Covid-19 pandemic? Lets that qualify as furnished holiday lettings (FHL) enjoy…

Continue Reading If you have a holiday let but are worried you won’t meet the occupancy test this year, all is not lost. There are two routes by which it may be possible to reach the required occupancy threshold – an averaging election or a period of grace election.

A quick guide to what should be included when calculating the profit or loss for a property rental business.

Property income receipts – what should be included? When calculating the profit or loss for a property rental business, it is important that nothing is overlooked. The receipts which need…

Continue Reading A quick guide to what should be included when calculating the profit or loss for a property rental business.

Do you own a holiday cottage? You could get favourable tax treatment.

Furnished holiday lettings – is it worth qualifying? When it comes to taxing rental income, not all properties are equal. Different rules apply to properties which meet the definition of…

Continue Reading Do you own a holiday cottage? You could get favourable tax treatment.