Our Services

For furnished holiday lets tax advice, we have a specialist team to guide and advise you through all stages of operating your holiday letting business.

If you already rent your property on a commercial basis for holiday letting or are considering doing so, it may qualify as a furnished holiday let. If it meets the conditions set by HM Revenue & Customs there are a number of tax advantages from which you may benefit.

Read our guide to the furnished holiday lets tax effects on your holiday let due to Covid 19

What is a Furnished Holiday Let?

To qualify as a furnished holiday let a property must:

• be located in the UK or European Economic Area (EEA)
• be let on a commercial basis with a view to making a profit
• be furnished
• pass the qualifying tests

We can support you with:

• Determining if your property qualifies as a furnished holiday let
• Calculating relevant occupancy periods for the first and last year of rental
• Applying the period of grace rules in quieter years
• Claiming Capital Allowances in a tax efficient way
• Advice on the best way to structure mortgage finance for tax purposes
• Advising you on ownership where you are a higher rate tax payer
• What you have to tell HM Revenue & Customs and how to complete your tax return
• Advising you on what expenses you can claim
• Reviewing your VAT situation and planning to relieve the burden
• How to calculate the tax due when properties sell and claim the maximum deductions and reliefs
• Planning to utilise Entrepreneurs Relief on sale
• How FHL property ownership affects your position for inheritance tax