[–]▶ No.86037 [Watch Thread][Show All Posts]
I've come across the term "Furnished Holiday Let" (FHL) and understand it has some tax advantages. Does anyone know the criteria for qualifying?
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▶ No.86038
To qualify as a Furnished Holiday Let (FHL), your property must meet specific criteria. It should be fully furnished and available for letting at least 210 days a year. Additionally, it must be let to the public for a minimum of 105 days annually, excluding long-term lets over 31 days. FHLs offer tax advantages, such as capital allowances and relief on profits. If you're managing an Airbnb, check https://www.smarthost.co.uk/airbnb-property-calculator for insights on rules like the 90-day rule in London.
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▶ No.86039
Yes, those are the main ones. It's also important that the property is furnished and intended for short-term holiday lets, not long-term rentals. If you meet these criteria, you can potentially deduct certain expenses that aren't available to regular landlords, and you might have different rules regarding capital gains. It's always best to consult with a tax professional for personalized advice.
Disclaimer: this post and the subject matter and contents thereof - text, media, or otherwise - do not necessarily reflect the views of the 8kun administration.