Guys you clearly give great advice, men me wife have a 50k deposited, not a £ of debt, both professionals on £35k and 56k. My wife works for the NHS and is now moving 200 miles for her new job. Howeversince January she has only being picking shifts up on the bank but has never stopped earning. Will qualify for mortgage and the spousal tax difference?
Excellent video for this topic,covered all aspects we are not clear about. One question, will the current FHL tex regime still valid for the 2024-2025 year tax return? Thanks.
Good show but I am still confused! Does this mean that my holiday lets are no longer a business? I have other property that is let long term so are they all the same now? Yet they are completely different as for the long term lets there are very few expenses as they are all covered by the person renting them whereas the holiday lets have loads of expenses - laundry, cleaning, heating, repairs etc.... not to mention the admin hours I put in. Plus while I run the business on my own and do all the work, , the property is part owned by my brother and my partner so while at the moment I get 80% of the profit, in the future i will only get 33%. Unfair!
Hi, thanks for watching! Draft legislation will be published in due course where we hope HMRC will clarify the true treatment of FHLs on tax returns. It's not clear whether they will be reported with long term lets or whether they will remain to be reported separately as a FHL business.
19:28 I'd love a conversation about my fhl please. I'm free tomorrow after 1pm
thank you for those informations
Guys you clearly give great advice, men me wife have a 50k deposited, not a £ of debt, both professionals on £35k and 56k. My wife works for the NHS and is now moving 200 miles for her new job. Howeversince January she has only being picking shifts up on the bank but has never stopped earning. Will qualify for mortgage and the spousal tax difference?
Great content. So is this still true given the new Government please?
Could one lease their property to a limited company (of their own) then continue to run the FHL through that limited company ?
Hi guys, so whats the diference between FHL and serviced accommodation? 🤔
Weren't the SA people getting whole those tax benefits as well?
Excellent video for this topic,covered all aspects we are not clear about. One question, will the current FHL tex regime still valid for the 2024-2025 year tax return? Thanks.
As we understand, yes. However, HMRC will be publishing draft legislation in due course and it could include an anti-forestalling rule for CGT.
I noticed that the Chancellor kept referring to FHLs. Would SAs that are not strictly FHLs be caught up in the new legislation?
Good show but I am still confused! Does this mean that my holiday lets are no longer a business? I have other property that is let long term so are they all the same now? Yet they are completely different as for the long term lets there are very few expenses as they are all covered by the person renting them whereas the holiday lets have loads of expenses - laundry, cleaning, heating, repairs etc.... not to mention the admin hours I put in. Plus while I run the business on my own and do all the work, , the property is part owned by my brother and my partner so while at the moment I get 80% of the profit, in the future i will only get 33%. Unfair!
Hi, thanks for watching! Draft legislation will be published in due course where we hope HMRC will clarify the true treatment of FHLs on tax returns. It's not clear whether they will be reported with long term lets or whether they will remain to be reported separately as a FHL business.
@@provestor Hi, has it already been published?
what about SDLT incurred when moving into a company. Business Rates? If we are not a business then we can get bins collected and pay Council tax??
Double council tax for second homes in many area's from next year
Can you sell fhl in uk get cg rekief byying a fhl overseas?
This is a question for your local council and how they treat properties in that area. SDLT will be incurred if you move the property into a company.
Do FHL changes affect owners that have properties overseas as well as domestically?