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Newheight13
Posts: 190 Forumite
Hi,
We currently have an Airbnb that’s been running for 3 months, but due to other commitments we would like to rent it out for 6 months, and then return to Airbnb. We have someone who would like to rent it for only 5-6 months which is ideal.
We currently have an Airbnb that’s been running for 3 months, but due to other commitments we would like to rent it out for 6 months, and then return to Airbnb. We have someone who would like to rent it for only 5-6 months which is ideal.
What would be the best way to deal with this transformation, can I let out as a holiday let for 6 months? From what I understand the answer is no. I’m worried that we would lose the tax advantages if we would ever to sell or if this would seriously complicate things for us.
Thanks,
0
Comments
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Are you aware the chancellor has abolished the Holiday Rental regime from April 25?3
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You are aware that Thatcher's 1988 Housing Act makes clear that a tenant does not have to leave at the end of the tenancy agreement fixed term? Regardless of the paperwork it will almost certainly be an AST.
btw also yes you can have pretty much any initial fixed term with a AST - a week, 2 months, 5 months etc etc..2 -
The disadvantage is that it will delay the ability to meet the qualifying criteria for FHL which in turn stops you from getting the potential tax advantages ( capital allowances, business rates, full finance deduction, pensionable earnings, etc). As others have said, most if not all are going anyway after this coming tax year.2
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