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Furnished Holiday Accommodation by ltd co landlord

What rules apply ? Are they the same as for ITax including qualifying period and capital allowances?

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Client company has purchased, refurbished, furnished and let two properties as holiday accommodation. One is in the UK, the other in an EU country.
What are the tax rules that apply? ICTA 2009 S248 is very brief; is there more elsewhere?

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By chicken farmer
12th Jun 2018 09:39

Its not ICTA 2009, its CTA 2009 and its not s.248 you should be reading but s.264 et seq.

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By sammerchant
12th Jun 2018 09:54

Thanks, you are quite right. I meant CTA 2009.

I believe that the periods of 140 and 70 days in S267 are now 210 and 105. Is that right?

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By chicken farmer
12th Jun 2018 10:14

If you read s. 267 you will find the answer.

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By sammerchant
12th Jun 2018 10:57

Thanks. I have.

But I also wished to know the legislation that amended the qualifying periods after 2011/2012. Just being belt and braces!

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By chicken farmer
12th Jun 2018 11:18

How have you accessed the legislation? The footnotes in the Yellow or Red Book will indicate when this was amended.

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By sammerchant
12th Jun 2018 11:22

Thanks again. Very helpful.

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JC
By A_non
12th Jun 2018 10:05

for heaven sake, if you can read the legislation surely you can decipher the other info. Its class 101.

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By sammerchant
12th Jun 2018 11:01

Some of us who post on AWeb are sole practitioners in general practice. We do not have the luxury of in-house experts or specialists.
Some of us also like to be quite certain before we advise a client.
Some of us do not have a brain the size of a planet.
I had hoped that you, with your (seemingly) vast knowledge would have guided me to the amending legislation. I had not expected an arrogant response. But thanks all the same.

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