This article is meant as a guide only. Advice should be taken from a qualified person.
Letting a fully furnished holiday home in the UK may mean the income made is treated differently than other rental income. Holiday lets are considered a business, where as other property letting income is classed as investment income.
The are some tax incentives for holiday lets, but your accommodation must comply with inland revenue rules, referred to as QUALIFYING TESTS which are:
* Based in the UK.
* Furnished rental accommodation.
* Available for holiday letting to the public for at least 140 days a year.
* Actually let as a holiday let for at least 70 days a year (and
these must be commercial lets, not at cheap rates to friends and
family).
* Your occupier cannot stay for more than 31 days in any 7 month period.
* Lets must be at the full market value. This means letting your
cottage to family for 2 a week will not count.
And holiday lets must be (both):
* Short term lets of not more than 31 days.
* The only lets over a period of at least seven months.
Your income from you holiday let is...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
