My client has acquired a property with the intention of renting it out as a furnished holiday let. It meets the availability and pattern of occupancy conditions but is likely to struggle to satisfy the 105 days let condition in the first year - it's a start-up and it will take time to build the business.
Averaging is not an option (no other FHLs owned) and on the period of grace election HS253 states "You can make an election where the property met the letting condition in the year before the first year you wish to make a period of grace election", which is fine and dandy, except that there is no year before - it's the first year of trading.
Seems a tad harsh on someone trying to build up a FHL business. Is there any other recognition of the challenge of hitting that letting condition in the first year?