This category is about all aspects of Holiday Home Letting and will be of interest to owners of holiday lets across the UK. As Holiday Home Insurance Specialists we are proud to share tips, guidance and articles.

Whether you own an individual holiday home or cottage or a holiday cottage complex our holiday home letting articles are for you. Subjects covered include taxation, online scams and regulations.

Check out these posts: Holiday Letting Terms and Conditions, Registration Schemes for Short Term Lets, Buying a Leasehold Apartment to Holiday Let, Holiday Lets and Tax – what you need to know.

Flood Alerts And Warnings In Force – be flood aware!

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Holiday Home Insurance | A guide to calculating your Sums Insured

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holiday home gutted by fire

Holiday Home Insurance specialists, Boshers Ltd advise furnished holiday let owners to review their cover and in particular to check that sums insured are correct.

Mark Lavington, Director of Boshers Ltd said that, “many holiday home owners will find that their holiday home insurance falls due for renewal during the Spring and early Summer as this is often when properties were purchased or began their life as furnished holiday lets.

This is therefore a poignant time to ensure that you have sufficient cover and especially that your sums insured are correct, as underinsurance can cause holiday home owners major financial issues”.

Please read Holiday Home Insurance | A guide to calculating your Sums Insured for more information.

Should you require any additional guidance, a holiday home insurance quote or a revised quote to increase your sums insured, please contact a member of Boshers Holiday Home Insurance Team on 01237 429444 or visit http://www.holidayhomeinsurancequote.co.uk/ 

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You, your holiday home keys and your insurance

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You, your holiday home keys and your insurance. Are `Loss of keys’ covered? This is frequently asked with respect to our holiday home insurance policy. Boshers holiday cottage insurance contract does include the reasonable cost necessarily incurred in replacing door or window locks at the holiday home including locks to safes and alarms following theft or loss of keys.

If your holiday home, cottage, or cottage complex is insured elsewhere be sure to check their policy wording throughly. When selecting the right holiday home insurance for your property be sure to compare the cover offered. It can often be false economy to focus purely on the premium. Check out more answers to your holiday home insurance FAQs.

You may also find the following posts for holiday home owners of interest:

Follow this link for posts similar to `You, your holiday home keys and your insurance‘ and other useful resources for holiday home owners

For further information on UK holiday home insurance visit the website page most relevant to you:

Thank you for reading `You, your holiday home keys and your insurance’.

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Carrying out alterations or improvements at your holiday home?

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Many furnished holiday home owners will choose the low season to renovate, improve and alter their holiday homes. Be sure to inform your holiday home insurance provider of such alterations so as not to compromise your cover. 

Sums insured may need to be increased to avoid underinsurance. Check out Boshers holiday home insurance | Guide to sums insured or call us on 01237 429444 should you have any queries.  

You may also find the following posts for holiday home owners of interest:

Follow this link for posts similar to `Carrying out alterations or improvements at your holiday home?‘ and other useful resources for holiday home owners

For further information on UK holiday home insurance visit the website page most relevant to you:

Thank you for reading `Carrying out alterations or improvements at your holiday home’?.

 

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You, your holiday let apartment and your insurance

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You, your holiday let apartment and your insurance.
When purchasing an apartment to holiday let, you’ll rightly focus on the return on investment. As part of this research you’ll establish that there is sufficient demand for an additional holiday let in the location of your choice. As with any business decision it is important to stand back and let your head rule your heart! It’s important to avoid the following pitfalls:

If you are using a mortgage to finance your purchase make sure your mortgage provider is aware of your intention to holiday let the property.

Check with the freeholder / managing agent that there are no restrictions on the use of the property that will prevent you from letting it for short term holidays.

Likewise check with the freeholder / managing agent that the buildings insurance policy for the apartment block includes property owners liability for the shared areas and that holiday letting is an acceptable use of the apartments by the insurer.

At this point it is also wise to check if the buildings insurance extends to cover fixtures and fittings within the apartment such as fitted bathrooms, kitchens, and fitted bedroom furniture and wooden flooring and if so is accidental damage included? In our experience the buildings insurance for many blocks of flats and apartment blocks does not extend to cover the fixtures and fittings within the apartment and certainly not in the event of accidental damage.

Now that you have established the above, how can Boshers help?

We can provide you with a Holiday Home Insurance Contents Policy for your apartment to include cover for:

  • Your general contents
  • Fitted kitchens, bathrooms, bedrooms and flooring
  • Property owners liability insurance for commercial holiday letting

It is important that you insure for the correct replacement value, remember in the event of a claim your contents will be replaced on a new for old basis, therefore your sum insured must be sufficient to replace everything at the recommended retail price. Likewise with fitted kitchens, bathrooms and bedroom furniture you must insure for like for like replacement including the cost of installation and debris removal.

Follow this link for posts similar to `You, your holiday let apartment and your insurance‘ and other useful resources for holiday home owners

For further information on UK holiday home insurance visit the website page most relevant to you:

Thank you for reading `You, your holiday let apartment and your insurance‘.

Should you have any queries or require a holiday home insurance quotation for your commercially let second home or apartment call us on 01237 429444 or visit us at www.boshers.co.uk/holiday-home-insurance

 

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Holiday Let Rubbish To Be Treated As Commercial Waste

Holiday Let Rubbish To Be Treated As Commercial Waste. We have just received this letter as an attachment to our business rates bill. It is entitled `Important information for the owner of holiday lets’ and within the body of the letter it explains changes to waste regulations that are expected to come into force from April 2012.
Following a review of the controlled waste regulations by DEFRA it has recommended that waste produced by properties used for the provision of self catering holiday accomodation is to be reclassified as commercial wate. It is expected that this will come into force in April 2012 and if it does the owners of these properties will have a duty of care to ensure that their waste is dealt with in the same manner as any other business. 
Look out for similar notifications from your local authority.   

 

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Boshers | Holiday Home Insurance Shares Images On Pinterest

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Boshers Holiday Home Insurance Shares Images On Pinterest. The latest social media hype is focussed on Pinterest. We at Boshers holiday home insurance are always looking for ways to communicate articles of interest to holiday home owners. Check out our first virtual pinboard for UK holiday home owners.

Boshers holiday home insurance shares images on pinterest
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Holidays At Home Are Great TV Ad

Check out behind the scenes  footage for the Holidays at Home are Great TV Ad. In it Stephen Fry, Rupert Grint, Michelle Dockery and Julie Walters chat about some of their favourite places to staycation in the UK. Is the location of your holiday home mentioned? 


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Tax on furnished holiday lettings

 

If you let out a furnished holiday home in the UK or the European Economic Area (EEA), you may be entitled to certain tax advantages. However, your property must meet some rules to qualify.
Rules for furnished holiday lettings for the 2011-12 tax year
To make sure your property qualifies as a furnished holiday letting, it must be: 

  • in the UK or EEA
  • furnished
  • available for commercial letting to the public, as holiday accommodation, for at least 140 days a year (210 days for 2012-13)
  • commercially let as holiday accommodation for at least 70 days a year (105 days for 2012-13) – the rent must be charged at market rate and not at cheap rates to friends and family
  • a short term letting of no more than 31 days 
Tax advantages of furnished holiday lettings

The tax advantages if your property qualifies as a furnished holiday letting are: 
  • you can claim capital allowances
  • you get the benefit of some favourable Capital Gains Tax rules when you sell or `otherwise dispose’ of the property 
 
If your property doesn’t qualify 

If your property doesn’t qualify as a furnished holiday letting – for example you own a holiday villa outside of the EEA or you don’t let it out for enough days – you’ll be taxed under the residential property lettings rules. 
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Legal case clarifies taxation of holiday lets in the UK

An article on the PROPERTYWIRE website outlines in detail the results of a resent tribunal case relating to the treatment of a holiday let property for inheritance tax purposes. 


A landmark tribunal case ruling has resulted in much needed clarification regarding the taxation of holiday lettings and has also criticised the conduct of the UK tax authorities. 


The case revolved around whether or not the letting of a holiday cottage consisted wholly or mainly of holding an investment. Property consisting of a business or an interest in a business carried on for gain and consisting of something other than the making or holding of investments (relevant business property) is entitled to relief from inheritance tax. 


The property in question was a large bungalow overlooking the sea on the Suffolk coast in England. The property could accommodate up to eleven people and was typically let for les than two weeks at a time. HMRC had determined in 2008 that the property was subject to inheritance tax. The taxpayer appealed to the Tax Chamber of the First-Tier Tribunal, claiming that the property was entitled to relief as a `relevant business property’.  To read the full article click here 


Holiday let owners looking to protect their business would be wise to choose a holiday home insurance policy that is built around a commercial property insurance wording, tailored to the risks involved with operating commercially let UK holiday homes. Call the Holiday Home Insurance Team at Boshers on 01237 429444 for advice and quotations or visit HolidayHomeInsuranceQuote.co.uk    

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