Hi. does anybody know what happens to the loss made on a FHL if the owner decides not to continue renting the property in 12/13 as they now cannot offset it against their taxed income?
FHL
A client with an FHL has done a big refurb in 2011/12 which given that AIA is still £100K I suspect means with capital allowances there is likely to be a fairly significant loss in the year. Howev
Husband & wife with a FHL already making a large loss in 2010/11 but also with huge (and I mean huge) capital allowances. Because the husband's other earnings are massive compared to his wife I
A question which ended up as a confusing muddle.... if anyone can shed a light or give me pointers I would be so grateful! Situation......
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The legislation to amend the Furnished Holiday Letting (FHL) legislation is introduced by section 52 and Schedule 14 of FA 2011.
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I have recentlys taken on a client who own a furnished holiday let jointly 50:50 with there spouse. They have stated that the income from this is to be taxed on 100% on there own tax return. I ha
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Property which had always be classed as an FHL was purchased by a completely new owner in January 2011. They then spent £15,000 on fixtures for the property. They commenced with renting it out on
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Tax editor Rebecca Benneyworth offers a technical summary of the changes to furnished holiday lettting rules outlined in this week's draft Finance Bill 2011.
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Prompted by a question on Any Answers, Rebecca Benneyworth presents a summary of what some are claiming is a 'new' availability of allowances in relation to let property.
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AcountingWEB.co.uk Tax Editor Rebecca Benneyworth has compiled the community’s feedback on the FHL rules consultation paper and submitted them to HMRC.
