Making Your Furnished Holiday Lettings More Profitable

Capital Allowances are a valuable form of tax relief on your Furnished Holiday Lettings (FHLs) and can offer significant savings for the UK tax payer.  The tax relief has long been available to FHL owners with properties in the UK and was recently extended to also include FHLs in the European Economic Area*.

FHLs must meet certain criteria to attract these capital allowances, but those which are commercially available to let for at least 140 days a year and out actually let for 70 days will currently qualify.

Whether you have incurred capital expenditure on the purchase, construction or refurbishment of your FHL, you may be entitled to claim Capital Allowances on items including heating and air conditioning systems, electrical installations, fire alarm systems and kitchen and bathroom facilities, as well as games rooms and swimming pools for large properties.

With the rules governing this tax relief changing in April 2011, and further changes planned for 2012; employing a specialist is a must to ensure a truly optimised claim. As experts exclusively in property taxation, we provide a unique skill set to evaluate all the factors of your FHL expenditure, evolve an expert tax strategy and enhance your available cash savings.

To explore the value we could add to your FHL property, please contact us to discuss your properties and let us provide you with a free HealthCheck to see what you could save.

* The European Economic Area includes all member states of the European Union plus Iceland, Lichtenstein and Norway.