.png)
.png)
Issue:
4940
/
Categories:
Comment & Analysis
, furnished holiday lettings
, HMRC
, Holiday homes
, Online
, Property
, Land & property
Level foundations
Key points
- HMRC’s comprehensive Connect system links third party information with taxpayers’ records.
- A freedom of information request by The Telegraph showed that HMRC increased its enquiries in the holiday home sector from 95 in 2021-22 to nearly 2 000 in 2023-24.
- Effect of online platforms reporting details of UK properties and their hosts using their sites.
- Removal of the special tax regime for furnished holiday lets.
The information balance between HMRC and taxpayers is always in a state of flux. Generally it can be argued that the taxpayer has the upper hand as they know exactly what they have earned and exactly how much they have spent whereas HMRC have to rely either on what they are told by the taxpayer or on what they can obtain from third parties.
However unless it is a specific request that information has to be matched back...
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
