With 7 months to go before Furnished Holiday Lets (FHL) are taxed the same as all other property rents (ASTs), what should you as an owner of a Furnished Holiday Let do before 6 April 2025? If anything?
With many changes announced even before this Wednesday's Budget, it's worth checking through these five items in case you want to take action before the end of the month/5 April:
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With 'One Month Until Christmas' trending on Twitter at the same time as 'Spending Review' the link is obvious.
However, it's true that a few feared changes didn't occur, such as Working Tax Credits and Freelancer/Consultant Tax increases known as IR35.
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Public opinion has played a strong role in the Chancellor's statement today and perhaps his announcements made at the Commons film set today can be summarised into the Good, the Bad and the Ugly.
The Good - Property Owners, Savers
At last the stamp duty system has been modernised, so it doesn't distort the property market with a more logical % being charged in each band rather than on the whole property price.
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