Furnished Holiday Lettings – read the Members of Parliament briefing

Last Updated on January 7, 2010 by admin

Furnished Holiday Lettings – read the Members of Parliament briefing. Under the Furnished Holiday Lettings rules, income from furnished holiday accommodation may be treated as income from a trade for tax purposes, although generally the letting of property is not a trade. In the 2009 Budget the Government announced that FHL rules would be repealed from April 2010, raising about £20m in 2011/12. Despite representation from home owners, landlords, and the tourist industry, the Government confirmed this change would go ahead in the Pre-Budget Report in December 2009. This parliamentory briefing note discusses the background to this measure. Read on here