UK Furnished Holiday Lets
Furnished holiday lets (or FHLs) have grown in popularity, especially since the outbreak of Covid 19. More and more people are looking for local holidays and less are travelling abroad. FHLs have also been encouraged by platforms like Airbnb, which allows people to rent out their homes. Unlike a residential let, a furnished holiday let is a tenancy that entitles the tenant to occupy a fully furnished, self-catering property for a limited period. Qualifying FHLs are to be considered a business rather than an investment property (when renting out residential property), and this also means the tax rules for FHLs are very different compared to renting out a residential property.
In order to provide you with efficient and cost-effective tax planning assistance, we require accurate and updated information about your income sources.
TaxDash will help you keep track of all your FHL rental income and expenses.
We will ensure that you understand the number of days you need to rent out your FHL for it to qualify as a holiday let.
TaxDash will keep all your FHL income and expenses updated, helping you with your personal tax planning.
Our team will record all the capital improvements on your FHLs and calculate the relevant capital allowances.
We will minimise your capital gains tax when you sell your FHL by calculating your capital expenses.