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Furnished Holiday Let Tax Status Question

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Victoria17
Victoria17 Posts: 35 Forumite
Part of the Furniture 10 Posts Name Dropper Combo Breaker
edited 4 April 2022 at 11:15AM in Small biz MoneySaving
Hi everyone,

I've got some BTL properties, it's my only source of income. I've been doing tax returns for years and am familiar with that.
I've just listed a Property on Airbnb full availability, all year around.
Now that I'll be a FHL owner, do I need to register as self employed or sole trader or can I do nothing and just fill out the relevant section for Furnished Holiday Let earnings in my next Tax Return?
I'm seeing conflicting advice online...

Thank you!

Comments

  • Jeremy535897
    Jeremy535897 Posts: 10,733 Forumite
    10,000 Posts Fifth Anniversary Photogenic Name Dropper
    Furnished holiday lets are still rental income, so you don't pay class 2 or 4 NIC and the profit is not self employed income, so just fill out the relevant section on the self assessment tax return.
  • Victoria17
    Victoria17 Posts: 35 Forumite
    Part of the Furniture 10 Posts Name Dropper Combo Breaker
    Furnished holiday lets are still rental income, so you don't pay class 2 or 4 NIC and the profit is not self employed income, so just fill out the relevant section on the self assessment tax return.
    Thank you very much for clarifying. I won't do anything then, just add my FHL income and expenses to my next tax return.
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