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Relief for holiday lettings

publication date: Apr 29, 2010
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holiday homeIn a surprise u-turn, the Government has dropped the removal of tax relief on Furnished Holiday Lettings (FHLs) which was one of several tax increases in the Budget, due to be enacted before Parliament was dissolved prior to the General Election on the 6th May. The tax increases were abandoned after negotiations failed to fast-track the Finance Act through Parliament. The Tories had refused to sanction the fasttracking of the legislation.

Jonathan Bramwell of Prime Purchase says, “This is a surprise boost for the country market, many of our clients were aware of the tax advantages attached to holiday letting properties that often formed part of an estate or larger country house that they were considering acquiring”.