AdrianC
03-03-2005, 13:59 PM
Hi,
I’m new to this Forum so hello all. :)
My first question is regarding holiday accommodation letting. I’m currently considering purchasing a property that is situated on a holiday park (In the UK). It’s not a caravan but a small bungalow. My plan is to rent it out for 1 and 2 week holidays.
The property is lease hold and the park administration/lease cost is £1500 a year.
Other associated costs include water and energy bills.
My questions are:
What is the tax rules regarding holiday lets?
What can I claim tax relief against? What about the interest on any loans I might have against the property?
I also own a house I currently let on an AST. Can I add any costs from both properties together for working out my tax liabilities/allowances or should they be treated individually?
One last question. If I made the holiday home available for let but failed to get any customers, could I still claim some kind of tax relief?
Thank you all in anticipation of your helpful responses.
I’m new to this Forum so hello all. :)
My first question is regarding holiday accommodation letting. I’m currently considering purchasing a property that is situated on a holiday park (In the UK). It’s not a caravan but a small bungalow. My plan is to rent it out for 1 and 2 week holidays.
The property is lease hold and the park administration/lease cost is £1500 a year.
Other associated costs include water and energy bills.
My questions are:
What is the tax rules regarding holiday lets?
What can I claim tax relief against? What about the interest on any loans I might have against the property?
I also own a house I currently let on an AST. Can I add any costs from both properties together for working out my tax liabilities/allowances or should they be treated individually?
One last question. If I made the holiday home available for let but failed to get any customers, could I still claim some kind of tax relief?
Thank you all in anticipation of your helpful responses.