Profit Split in Furnished Holiday Let

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Hi everyone

I understand that under FHL rule, a married couple can decide to how to split their profit on the FHL as they wish. My question is can the profit split change each tax year or it has to be the same from the beginning of the FHL?

Thanks

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By David Ex
20th Nov 2023 12:23

I tried to post link to previous similar questions but it’s been “queued” for review.

If you search, there should be some useful content.

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Replying to David Ex:
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By bpham
20th Nov 2023 13:41

Thanks for your reply. I have looked before posting the question but couldn't see any similar question to the one I posted. I will wait for your link to be approved.

Thanks

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Replying to bpham:
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By David Ex
20th Nov 2023 17:08

bpham wrote:

I will wait for your link to be approved.

A long time, apparently! No idea what the delay is.

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By plummy1
27th Jan 2024 13:09

My understanding is that each year the married couple can elect to split the profits in the most tax efficient way possible. Another tax plus for running furnished holiday lets. Have they claimed "plant and machinery fixtures" on the property or at least explored this avenue for further potential tax savings?

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