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How will the impact of the abolishment of the FHL tax status affect your holiday home? 

The abolishment of the Furnished Holiday Let tax status takes place in April so if you’ve been thinking of updating or refurbishing a holiday let, acting now will save you thousands of pounds. 

The full impact of the change to tax rules is only starting to become clear but the new rules will reduce allowable expenses and remove key benefits, such as favourable capital allowance rules for fixtures and furniture.

Existing capital allowance pools will remain, but new expenditures will follow the revised regulations. 

For detailed advice please refer to your accountant. You can read more about this from our associates at PKF Francis Clark.

We have begun to receive enquiries from owners seeking to get ahead of the change.  If you would like an update to fixtures & furniture or refurbishment at a holiday let, please let us know so we can bring the work into our winter schedule.

If we can help with your project please get in contact with us [email protected]