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After years of confusion, the future is now clear for furnished holiday lettings taxation, says MIKE TRUMAN
KEY POINTS
- Difficulty of keeping up with changing legislative proposals.
- Will entrepreneurs’ relief still apply for those who stopped FHL in 2010/11?
- The ‘period of grace’ in ITTOIA 2005 s 325A.
- Need for a ‘genuine intention to meet the letting condition’.
Clients often complain that their advisers don’t give them enough proactive advice and one of Taxation’s roles is to help you to provide that.
Unfortunately that always carries the risk that the advice will prove to be wrong through no fault of the advisers.
A case that seemed to offer a planning opportunity may get overturned on appeal an interpretation...
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