You may have seen the piece yesterday in the Sunday Times Money supplement about HMRC going after people for capital gains tax on the sale of second homes.
The essential point of the article was that HMRC believe many people
Holiday homes can incur extra taxes beyond basic domestic taxes such as Council Tax. Since your holiday home rental is a business it is helpful to understand and plan your tax properly.
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If so, then it is more than likely that you are either making a profit or a loss from your rented property.
But I’ve only got one little flat?
If you own one or more properties other than your main
The current regime of Furnished Holiday Lettings (FHL) may be about to change as HMRC are consulting on new legislation to replace FHL.
Currently, tax rules allow for holiday lettings to be traded as a “quazi trade” with a number …