Qualifying period for furnished holiday lets to be extended under Treasury plans
Accountancy Age, 28 Jul 2010
Owners of furnished holiday lettings could lose the tax relief available on their properties unless they are made available to let for longer.
Government plans would extend the amount of time that homes need to be let out and available to let for their owner to continue to qualify for currently available relief.
Currently, homes have to be let out for 70 days a year and available to let for at least 140 days to receive entrepreneurial relief on capital gains tax at 10% and rollover relief on the tax. Treasury plans would see the qualifying period raised so that homes have to be let out for 105 days a year and available to let for 210 days, according to the Times.
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