{"id":3534,"date":"2024-06-25T08:14:21","date_gmt":"2024-06-25T06:14:21","guid":{"rendered":"https:\/\/pfadvisors.co.uk\/?p=3534"},"modified":"2024-06-18T12:16:11","modified_gmt":"2024-06-18T10:16:11","slug":"big-changes-to-taxation-of-furnished-holiday-lets","status":"publish","type":"post","link":"https:\/\/pfadvisors.co.uk\/en\/big-changes-to-taxation-of-furnished-holiday-lets\/","title":{"rendered":"Big changes to taxation of furnished holiday lets"},"content":{"rendered":"<p>The Chancellor also announced the abolition of the Furnished Holiday Lettings (FHL) tax regime \u2013 the significant tax advantages over standard long-term lets have now gone.<\/p>\n<p>This is because, from a taxation point of view, you are no longer running a business. From April 2025, in the eyes of HM Revenue &amp; Customs, despite the work involved, furnished holiday lets are treated as passive investments and taxed as such. The regime is being brought into line with standard buy-to-lets, which themselves have suffered from tax increases recently.<\/p>\n<p>The new rules will not be finalized until they appear in the Finance Act, but it looks likely they will be approved.<\/p>\n<p>&nbsp;<\/p>\n<p>\ud83d\udea8 Data accurate as of the date of publication \u2013 25.06.2024<\/p>\n<p>\ud83d\udea8Tax treatment varies according to individual circumstances and is subject to change. Advice on Capital Gains Tax<\/p>\n<p>and Taxation Advice is not regulated by the Financial Conduct. Some buy to lets are not regulated by the Financial<\/p>\n<p>Conduct Authority.<\/p>\n<p>\ud83d\udea8Information within this blog is based on our current understanding and can be subject to change without notice and the accuracy and completeness of the information cannot be guaranteed.<\/p>\n<p>\ud83d\udea8Think carefully before securing debts against your home.\u00a0 Your home may be repossessed if you do not keep up repayments on your mortgage.<\/p>\n<p>\ud83d\udea8 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.<\/p>\n<p>&nbsp;<\/p>\n<p>Source: Quilter Financial Planning \u2013 Essentially Mortgages Q2 2024<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Chancellor also announced the abolition of the Furnished Holiday Lettings (FHL) tax regime \u2013 the significant tax advantages over standard long-term lets have now gone. This is because, from a taxation point of view, you are no longer running a business. From April 2025, in the eyes of HM Revenue &amp; Customs, despite the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":3516,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-3534","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Big changes to taxation of furnished holiday lets - Prestige Financial Advisers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pfadvisors.co.uk\/en\/big-changes-to-taxation-of-furnished-holiday-lets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Big changes to taxation of furnished holiday lets - Prestige Financial Advisers\" \/>\n<meta property=\"og:description\" content=\"The Chancellor also announced the abolition of the Furnished Holiday Lettings (FHL) tax regime \u2013 the significant tax advantages over standard long-term lets have now gone. 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This is because, from a taxation point of view, you are no longer running a business. 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