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.
AccountingWEB.co.uk was one of the 229 respondents to the consultation on the new furnished holiday letting accommodation rules. The documents published on 9 December include a summary of the consultation responses and draft legislation for the Finance Bill 2011.
It would seem that the balance of the responses were fairly spread across the various areas government was consulting on – there was no large majority of views one way or another, so in summary most of the proposals will be carried forward. In summary these were originally set out as follows:
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