roger

Registered with Property118.com
Monday 1st July 2019


Latest Comments

Total Number of Property118 Comments: 4

roger

15:18 PM, 3rd June 2020
About 10 months ago

Long term rental of Furnished Holiday Let?

Ian
I cant answer for silverserfer but in our case we also received £10,000 grant. I think it will only apply to FHL on business rates and not the long term let.

If your FHL is let for short periods that total 140 days or more per year it should be rated as self catering property and valued for business rates. (see https://www.gov.uk/introduction-to-business-rates/self-catering-and-holiday-let-accommodation )
You should not be paying council tax.

If you are a small business you will get 'small business rate relief', that should reduce your business rate to zero. You will then have to pay for the refuse to be collected by a commercial contractor as the council will not take it.

If you are claiming 'small business rate relief' for your FHL you would be able to receive the £10,000 Covid19 grant.
See: https://www.gov.uk/guidance/check-if-youre-eligible-for-the-coronavirus-small-business-grant-fund.
I am not sure of the cut off date to apply for this grant, also the gov.uk web site says you do not need to apply as the local council will contact you. This was not the case so I applied through the council website. Very easy, very quick. Payment was received within a week.
Good luck
Roger... Read More

roger

9:36 AM, 30th May 2020
About 11 months ago

Long term rental of Furnished Holiday Let?

Thank you both for your advice.

Neil: I have now confirmed that the customer will be using our property during a period of leave from work and will still have their main home. So it seems we would not be unwittingly creating an AST.
Michael: Thanks for that, I have reread the HS253 and yes I can see it now: None of the days associated with a long let are to be counted towards the 105 days to qualify. (It seems the 28 days you mentioned are now 31 days in the latest HS253 ).

This has now got me thinking now about the HMRC rules for FHL and the Covid19 pandemic: We have been forced by the government to close for business and with no firm date as to when we can reopen. Will the qualifying dates for FHL be adjusted to allow for these 'un-forseen circumstance' ? Assuming we are allowed to reopen on 4th July we will have been prevented from accepting guests for THREE months.

Challenging times for all.

Roger... Read More

roger

8:44 AM, 16th January 2020
About A year ago

Declaration of Trust and Allowable Expenses

Mark
Thank you for looking into the matter, don't worry I often have email issues as well. Keep up the good work.
Roger... Read More

roger

7:57 AM, 16th January 2020
About A year ago

Declaration of Trust and Allowable Expenses

Marc
I went through the Tax planning consultation with Mark Alexander in July 2019. I am still waiting to set up a declaration of trust to allow my wife to receive a share of the beneficial interest of a Buy to Let, this seems to be a very, very slow process. My latest email 6th Jan is still without acknowledgement. I know both Mark Alexander and Mark Smith are very busy so I just wanted to warn you that it may be a long process. Good luck with your plans.... Read More