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HMRC's extended time limit for certain furnished holiday lettings claims expires on 31 July.
In the Budget, the Chancellor announced the Revenue's change of view accepting that furnished holiday lettings anywhere in the European Economic Area (EEA) have always been eligible for treatment as trading if they met the relevant conditions.
Individuals who wish to amend past tax returns are still well within the normal time limits for amending personal tax returns already submitted for 2008/09 and 2007/08.
Corporation tax returns may also be amended at any time within the two years following the end of the period to which they relate.
However, in the document Furnished holiday lettings in the European Economic Area, HMRC said they will, until 31 July 2009, accept amendments to:
- 2006/07 income tax returns; and
- corporation tax returns for any period ended after 31 December 2006.
