The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for specific tax purposes. This begs the question, how can commercial property owners benefit from having a FHL?
The festive period is a good time for your clients to boost the income from holiday properties. If these qualify as furnished holiday lets, they attract favourable tax treatment, but how can you advise clients that fall just short of the qualifying conditions?
Of all the highly effective areas we can look at, find out why hotels are probably the absolute pinnacle of potential due to the nature of the property used in such a business.
This month heralds potential problems for commercial property owners who bought property in April 2014.