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Key facts about Tax for Furnished Holiday Lettings Owners

Key facts about Tax for Furnished Holiday Lettings Owners

If your furnished holiday let is closed for part of the year because you have no bookings, you can still deduct some expenses (eg mortgage interest) for the whole year, as long as you don’t live in the property during the period. If you let part of your property as a furnished holiday let or use the property privately for part of the year, you must apportion costs accordingly.

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Guide: Payment on Account

Guide: Payment on Account

Payments on account can be one of the most common stumbling blocks when it comes to your self-assessment tax return. Although it was introduced as an initiative to help taxpayers spread their tax payments, it can often result in annual frustration and can actually harm your cash flow if you are caught unaware.

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Private Rental Sector Exit Plan?

Private Rental Sector Exit Plan?

Now that we have a roadmap out of national lockdown, the Government “should set out how it intends for the sector to transition out of the pandemic… to publish a proper exit plan for the private rented sector from national and local restrictions” says the Housing Communities and Local Government Committee*.

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