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23/04/2020

UK Government Support: Furnished Holiday Lets (update)

There is still no progress whatsoever with the UK Treasury with regard to income from Furnished Holiday Let income getting no support at all due to technicalities of how HMRC obtains the financial detail: the issue here is that the SEISS scheme appears to be designed to take the information from the trading pages of self-assessment tax returns and not the FHL boxes on the property pages.

We would urge the Scottish Government to continue to lobby the UK Government to reconsider this.

ASSC is working with the Federation of National Self-Catering Associations, the Welsh Association of Self-Catering Operators, the Professional Association of Self-Caterers, the Holiday Home Association as well as the Scottish Tourism Alliance and the Tourism Alliance to lobby the UK Treasury on this subject, and wrote to the Chancellor on 25th April:

FHL Letter to Chancellor

https://www.gov.uk/government/publications/furnished-holiday-lettings-hs253-self-assessment-helpsheet/hs253-furnished-holiday-lettings-2020

Future Considerations

For the 2020/21 and the 2019/20 returns we will need to approaching the UK Government to request that existing FHL businesses retain their FHL tax status.

Depending on how long the lockdown continues and self-catering remains shut, it may be impossible for genuine FHL businesses to be available for 105 nights, let alone let for 210 nights in 2020/21.

If we fail to secure this, then any income we might secure in 2020/21 may end up taxed similarly to long term lets, i.e. on an investment income basis.

For more information please see our previous report: Read More

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