We remind you that the taxation rules for Furnished Holiday Letting (FHL) are different from those for income from rental property and there are advantages with FHL.
Since 2012/13 the rules have changed and to qualify as FHL the property must be available for at least 210 days a year and let commercially to the public for at least 105 days. You do not count any days when you let the property to friends or relatives at zero or reduced rates as this is not a commercial let.
There are various rules about longer lets, averaging if you have more than one property and periods of grace if your property reaches the occupancy threshold in some years but not in others.
It is certainly worthwhile keeping a record of days let and trying to ensure that the above criteria is met. For more information contact us.
01271 375271 01237 471881
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