Hi guys, so whats the diference between FHL and serviced accommodation? 🤔 Weren't the SA people getting whole those tax benefits as well?
@celiahall6168Ай бұрын
Great content. So is this still true given the new Government please?
@johnporcella23754 ай бұрын
I noticed that the Chancellor kept referring to FHLs. Would SAs that are not strictly FHLs be caught up in the new legislation?
@grassroot97716 ай бұрын
Excellent video for this topic,covered all aspects we are not clear about. One question, will the current FHL tex regime still valid for the 2024-2025 year tax return? Thanks.
@provestor5 ай бұрын
As we understand, yes. However, HMRC will be publishing draft legislation in due course and it could include an anti-forestalling rule for CGT.
@arrowequestrianclub82336 ай бұрын
Good show but I am still confused! Does this mean that my holiday lets are no longer a business? I have other property that is let long term so are they all the same now? Yet they are completely different as for the long term lets there are very few expenses as they are all covered by the person renting them whereas the holiday lets have loads of expenses - laundry, cleaning, heating, repairs etc.... not to mention the admin hours I put in. Plus while I run the business on my own and do all the work, , the property is part owned by my brother and my partner so while at the moment I get 80% of the profit, in the future i will only get 33%. Unfair!
@provestor5 ай бұрын
Hi, thanks for watching! Draft legislation will be published in due course where we hope HMRC will clarify the true treatment of FHLs on tax returns. It's not clear whether they will be reported with long term lets or whether they will remain to be reported separately as a FHL business.
@user-bz6nt2ez5q13 күн бұрын
@@provestor Hi, has it already been published?
@jaybee16556 ай бұрын
what about SDLT incurred when moving into a company. Business Rates? If we are not a business then we can get bins collected and pay Council tax??
@tourrhythmgolf-3to16 ай бұрын
Double council tax for second homes in many area's from next year
@alextaxi25935 ай бұрын
Can you sell fhl in uk get cg rekief byying a fhl overseas?
@provestor5 ай бұрын
This is a question for your local council and how they treat properties in that area. SDLT will be incurred if you move the property into a company.
@hjhiraniify6 ай бұрын
Do FHL changes affect owners that have properties overseas as well as domestically?