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The New Holiday Let Tax Landscape
& What Owners Should Do Now
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GET THE ON-DEMAND WEBINAR LINK SENT TO YOUR INBOX! |
Top 3 reasons to watch this webinar:
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Understand the new tax changes for holiday let owners, how you could be impacted and ways to mitigate the impact on your business.
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Gain an awareness of Capital Allowances Tax Relief, the benefits, and why it’s vital to claim before it’s too late.
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Get exclusive access to Zeal’s Tax Resource Hub, including our highly sought after eBook: Tax Changes for Furnished Holiday Let Owners.
The webinar covers:
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An overview of the key tax changes for FHL owners – what they mean, implications and transitional rules you need to know about.
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Tax Changes for FHL Owners – what special tax rules were abolished.
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Ways to mitigate the impact of changes on your business.
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Capital Allowances – how you could be unknowingly missing out on tax savings and why there is still time to make your tax relief claim before the deadline!
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Tax efficiency – business restrucuring & Declaration of Trusts (D of Ts).
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FAQs – Business Rates & VAT.
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Limited Companies – Advantages and Disadvantages if you are considering incorporation.
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The Cornish Gems benefit – what Zeal are offering exclusively to Members as part of our partnership
. . . and more!
Many FHL and SA owners are unaware there is an extra level of capital allowances that can be claimed on embedded ‘fixtures’ in the fabric of their property, like heating and electrical systems, kitchens, bathrooms and more.
This tax relief can be claimed on part of the original costs spent to purchase or construct their short-term let (no matter how long ago that was), and can generate significant tax savings for owners. Capital allowances can also be claimed on costs incurred to refurbish or convert the property for use as a short-term let.
As this is not a tax relief an accountant can typically claim, it’s estimated that 80% of qualifying owners have not made a claim and are unknowingly sitting on thousands of pounds in tax savings. Many could also be due a cash rebate from HMRC for overpaid tax.
Zeal’s Chartered Tax team of capital allowances specialists and quantity surveyors have the required expertise to help your owners identify any missed capital allowances claims.
As long as a claim is made before the final deadline, any tax benefit secured can continue to be used even after the rules change, AND can also be offset against tax due on ANY income from residential or commercial properties, not just FHLs!
