Tax changes for Furnished Holiday Lets (FHLs) ‒ What you need to know
LandlordZONE One such review likely to concern landlords and property owners was around the tax and allowances of Furnished Holiday Lets (FHLs). These policy changes are a reaction to the increasing number of homeowners using sites like Airbnb to make additional income on their homes. Owners of FHLs receive a number of tax reliefs and allowances, providing that they meet the criteria set by the government. For example, properties that qualify as a FHL are subject to business rates instead of council tax. Business rates are cheaper, as they are deemed to be commercial premises, and the maj...
Source: landlordzone.co.uk