Following our campaign against the previous Government’s proposed repeal of the special Furnished Holiday Letting (FHL) tax rules, we are very pleased that the June Budget announced the repeal will not go ahead.
HM Treasury have instead issued a document for consultation, proposing to tighten the following conditions for relief, with effect from April 2011:
- Increasing the minimum period over which a qualifying ...
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Parliament recently rushed through a new piece of legislation that could have dire consequences for the tourism industry in the South West. Fiona Campbell-Howes of Radix Communications discusses the matter in more detail below:
Do you run a B&B, guesthouse, hotel, cafe or bar that offers Wi-Fi or other internet access to guests as part of your service? If so, please read ...
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Will there be any change in the computation of profit from the letting?
Generally no, but it will change the tax relief available for capital expenditure.
From 6 April 2010, the FHL business is no longer a qualifying activity for capital allowances. How does this affect capital expenditure incurred before this date?
Where incurred before this date (or before 1 April for companies) on plant & machinery for ...
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