Tag Archives: furnished holiday lettings businesses; capital gains tax relief

Where a property is let out as a furnished holiday let as opposed to a longer term residential let, there are a number of advantageous tax reliefs available including the following: Business Asset Disposal relief – Taxable gains on disposal of FHL properties are charged at a lower Capital Gains Tax rate of 10%. Gains…

Furnished holiday lettings businesses are eligible for capital allowances on equipment in the property. Where the business incurs finance costs such as mortgage interest the restriction that applies to other residential property businesses does not apply to furnished holiday lettings. It should also be noted that qualifying furnished holiday lettings businesses are eligible for a…