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Issue:
4957
/
Categories:
Comment & Analysis
, furnished holiday lettings
, tax reliefs
, Land & property
Farm stay
Key points
- The furnished holiday let will lose its tax advantage from April 2025.
- There is a window of opportunity for farmers and landowners to plan ahead for tax advantages and pitfalls should they move into the ‘agri tourism’ world.
- Some decisions have to be made now as to selling planning permission and suitability.
- Business plans with tax relief planning will be essential.
The furnished holiday let (FHL) will lose its tax advantage from April 2025. It is therefore key to see what tax planning can be undertaken before 5 April 2025. It is also important to consider the arguments of those who are lobbying for the tax reliefs to stay which includes the provision of trade for local industries (shops pubs restaurants etc) that FHLS can bring. Despite what some of the business property relief (BPR) tribunals argue FHLs often require a lot of...
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