Switching AST to holiday let then back again

Switching AST to holiday let then back again

15:29 PM, 23rd June 2016, About 7 years ago 1

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We have a property that has been let on ASTs for many years. Last financial year we decided to try for holiday lets and had multiple tenants over a 6 month period. We then reverted to a 12 month AST. holiday let

What are the tax implications of this. Also, as we were claiming the 10% W+T allowance (before they changed the law), how would this work in this situation.

Many thanks

David


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Neil Patterson

15:31 PM, 23rd June 2016, About 7 years ago

Hi David,

You will have missed the new mortgage interest relief tax changes and rather than a flat 10% you can claim expenses with receipts.

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