The Chancellor’s statement on 29 July 2024 confirmed the new government’s intention to take forward changes to the taxation of furnished holiday lets (FHLs) announced by the previous government in its spring Budget.
The new government has now issued a tax information and impact note (TIIN), draft legislation and an explanatory note on the proposals and asked for comments from ICAS and our members by mid-September.
In this webinar, we do an overview of the proposals and the issues you need to be aware of on the abolition of the FHL rules. This includes the Income Tax and Corporation Tax changes taking effect in April 2025, as well as Capital Gains Tax changes for individuals who own properties which have previously qualified as FHLs, or shares in companies which have let out properties as FHLs. We also talk you through what you need to be aware of about Capital Allowances, where these have been claimed.
Key themes and topics :
-The government consultation exercise on FHL
-The key issues you need to be aware of when advising clients with FHL properties
-Income Tax and Corporation Tax changes to FHL from April 2025
-Capital Gains Tax changes, including the anti-forestalling rules and where these apply
-FHL Capital Allowances transitional rules
#ICAS #FHL #FurnishedHolidayLets
Негізгі бет Tax changes to furnished holiday lettings
Пікірлер