A husband and wife have three separate letting units at their home which achieve Furnished Holiday Lettings status. However since the rules changed to prevent an FHL loss being offset against gene
FHL
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I have a Husband & Wife jointly owning a Furnished Holiday let in which they want to claim Annual Investment Allowance. I've claimed 2 lots of maximum AIA but HMRC are saying that as an effect
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Facts: H&W bought the main residence in 1993, both earned roughly the same when the house was purchased but H made redundant 6 months later and became house housband.
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In year 1, the Mr A meets the hurdle rate on occupancy for the property to be defined as a FHL for tax purposes. However, despite a genuine intention to let the property he fall short in year 2, a
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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?
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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
Furnished holiday homes that are let can receive business relief on inheritance tax, according to a tax tribunal ruling that could trigger similar claims by holiday-home owners against the taxm
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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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