Any Answers Answered: FHL losses

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AccountingWEB’s October edition of 'Any Answers Answered' features questions on furnished holiday lettings losses and dividends relating to different classes of shares.

TAXtv hosts Tim Good and Giles Mooney tackle the following questions and put some meat on the bones in the video below.

The first question comes from Clint Westwood about furnished holiday lettings (FHL) losses.

When it come to other losses, can we put them all together or do you have to keep them completely separate? Are they ring-fenced? 

Tim Good provides the answer in the video clip below.

The second point raised by the AccountingWEB member asks if not, and the property subsequently qualifies as FHL a later year, can you resurrect any losses?

Good says “I don’t think so,” but suggests making a period of grace election. Find out more below by watching the video.

The next question comes from AccountingWEB member peterpaice concerning dividends relating to different classes of shares.

Giles Mooney said he was always very nervous around different classes of shares and declaring dividends across shares.

Good advised: “You must always look at the articles of association because they will set out what the different classes are and what the rights attaching there to are, and the treatment of dividends thereof.”

Find out the full answer below.

For the latest episode of TAXtv visit PTP Interactive. TAXtv is a monthly tax update programme available as an annual subscription from £199, (11 issues plus special editions) to view online, download from the internet or watch on DVD.

About Robert Lovell

Business and finance journalist

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    05th Oct 2016 11:59

    AWeb is the new Sunday Sport, apparently...

    Since we are apparently 'customers' of HMRC, we ought to take our custom elsewhere.

    Can we not all register with the tax authorities in the Republic of Ireland, or Cayman or somewhere instead?

    Avoid all this MTD b*llocks all together...

    Thanks (1)

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