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Changes to Furnished Holiday Let Taxation: Implications for Holiday Let Owners

Changes to Furnished Holiday Let Taxation: Implications for Holiday Let Owners

In November 2022, The UK Government’s Office of Tax Simplification (OTS) published a paper that proposes making substantial changes to the tax affairs of many that operate in the self-catering sector. This includes proposing abolishing the FHL (Furnished Holiday Lets) tax classification, whilst making better recognition of larger businesses, including the possibility of Inheritance Tax Relief.

The ASSC (Association of Scotland’s Self-Caterers) and PASC UK (Professional Association of Self-Caterers UK) collaborated to commission a report from leading tax advisors to the self-catering sector Francis Clark.

The report was authored by John Endacott, Tax Partner at PKF Francis Clark, and author of taxation books on the FHL sector and Heather Britton, Tax Director at PKF Francis Clark in the property tax advisory team.

John Endacott, Tax Partner, PKF Francis Clark

John heads up the tax practice at PKF Francis Clark and has particular expertise in owner managed businesses. John works closely with agricultural business as well as those in the leisure and tourism sectors.

John advises individuals, corporates, partnerships and trustees – specially in relation to property matters, business transactions and capital taxes. He is a national expert on the taxation of holiday lets and the author of Claritax ‘Furnished Holiday Lettings – A Tax Guide’. John has been quoted in Parliament and regularly meets with officials from HM Treasury and HM Revenue & Customs to discuss taxation matters.

Heather Britton, Tax Director at PKF Francis Clark

Heather is Tax Director in the property tax advisory team and enjoys providing practical solutions, particularly in relation to structure, property transactions and capital allowances. As well as advising a number of furnished holiday let owners and renewables businesses, Heather also specialises in stamp duty land tax and is part of the national stamp taxes practitioners group. She is a contributing author to Tolley’s Capital Allowances publication.

Read the report: Office of Tax Simplification report

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