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Coming to a client near you? KEVIN SLEVIN witnesses the end of furnished holiday letting relief as we know it
KEY POINTS
- Tax relief for furnished holiday lettings starts to end on 6 April 2010.
- The deemed cessation of FHL activity.
- Transitional entrepreneurs’ relief.
- Will a disposal before 6 April 2010 be the best approach?
- Entrepreneurs’ relief for post-cessation disposals.
- Transitional relief for associated disposals as well.
It has to be said that the term ‘commencement day’ sounds more like the title of a Hollywood blockbuster than an important tax term likely to feature in the Finance Bill 2010.
Readers will have realised its importance from the initial coverage of the 2009 pre-Budget report in connection with the change in the tax treatment of the commercial letting of certain furnished holiday accommodatio: the so-called furnished holiday letting (FHL) activities.
Strangely 6 April 2010 i.e. the ‘commencement day’ ...
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