Client has converted one outbuilding into 2 small apartments which are being let as holiday lets.
They are both available for let as holiday lets for the full year.
They have asked if the 105 days of letting in a year requirement applies to each individual apartment or to the 2 together. So lets say one is let for 75 days and one for 90 days so a total of 165 days for the business would that meet the test?
My gut feeling is probably it has to be 105 days per apartment but thought it worth asking.
Also if they are available and advertised for let for the full year but they just don't get enough lettings to get up to 105 days will that mean they just won't qualify as a FHL? I know there is a Period of Grace election but that can only go on for 3 years.
I believe they can make a Period of Grace election but that is time limited i