Switching AST to holiday let then back again
3:29 PM, 23rd June 2016, 10 years ago
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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.
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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3:31 PM, 23rd June 2016, About 10 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.