Do you own a furnished holiday let?
10 July 2009
If so did you know the tax rules are changing in 2009/10 AND
again from April 5th 2010.
If you haven't heard about these new holiday home tax changes it
is essential that you understand how they will impact on you NOW!
Especially as to gain some of the tax advantages you have to have
applied for the rebates/concessions by the 31st July 2009, less
than a month away!
The key property tax changes are if you own a holiday let within
the European Economic Area, you can take advantage of the furnished
let tax concessions - for one year ONLY! However, if you have a
furnished holiday let, from April 1st 2010 next year, all furnished
holiday lets tax concessions such as reduced Capital Gains Tax will
be scrapped, so your tax bill is likely to increase.
Property tax is an incredibly complex subject, which is made
even more complicated by overseas property ownership rules and
regulation, as a result we recommend you take specialist tax advice
from an expert. If you need help finding a property tax expert on
the country you own your property in, email enquiries@designsonproperty.co.uk.
Need insurance cover?
See holiday
home insurance and overseas home insurance for policy
details and cover options.