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FHL - 2020/21 - potential tax hurdle

With Covid not making FHL available will this impact tax returns for 2020/21

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Dear all,

Just thinking aloud and wonder whether there has or likely to be a concession on this or perhaps I am just overthinking, trying to get away from 209/20 tax returns!!

Available to let for 210 days and actually let for 105 days, it seems to me that quite a lot may fall foul next year. Wondering if I am missing something and whether I should be warning relevant clients this year before the end of the tax year.

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By Jekyll and Hyde
01st Dec 2020 14:32

I think I have answered my own question - period of grace.

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By Kaylee100
01st Dec 2020 18:07

Possibly. Youve only half answered your question.

The 105 days, if failed, can look at grace period options.

If 210 fail due to Government lockdown, there's no grace period option for this part of the criteria but we are hoping something will be legislated for.

A client of mine has said he wants to argue it was available if key workers had wanted to stay (and pay) but they didn't. He wasnt using it for anything else. I thought that an interesting view. He thinks he will make it anyway if theres no further lockdown and he has exceeded the 105 days too. So we may never get to have to address it. For him, anyway.

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