Higher rates buying 2nd home.Response deadline 11.45 tonight

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rosebud
Posts: 625
Joined: Wed Mar 14, 2012 5:24 pm
Location: Steyning, West Sussex

Higher rates buying 2nd home.Response deadline 11.45 tonight

Post by rosebud »

Furnished holiday lets
The government proposes that properties bought as furnished holiday lets should be treated in the same way as all other residential properties – if the property is purchased as an additional property the higher rates will apply.

Details at https://www.gov.uk/government/consultat ... ties/highe

Responses are invited up to 11.45p.m. Send e mails
sdltadditionalproperties@hmtreasury.gsi.gov.uk

I am objecting on the basis that
1) Furnished holiday lets are seen as distinct and different from properties let on a 6 month short hold tenancies with different tax rules applying. They are therefore already recognised as having a different function,
2) Furnished holiday lets promote tourism in the UK encouraging tourists from overseas and bringing foreign currency into the country. My cottage has visitors for more than 40 weeks of the year.More than 60% of my holiday let guests are from overseas.
I have worked hard to achieve this and if I ever was in the position to buy an additional property believe the economy would benefit and I should not be penalised with additional taxes.
I promote my area on Social Media as a tourist destination and have people across the world following my posts who may visit Brighton / Sussex as a result. This is a very different scenario to a regular buy to let property. My publicity can bring financial benefits not just to my holiday let but also local hotels (where I refer people when my property is booked) local tourist attractions, shops and cafes.

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Nemo
Posts: 7062
Joined: Thu Aug 14, 2008 10:15 am
Location: Norfolk

Post by Nemo »

Sadly I didn't see this until too late. I was embroiled in my tax return and then away on a maintenance visit. Add in losing access to my bank account due to the latest cyber attack, then this is the first time I've had time to come on to LMH in a couple of weeks. Ah well.
rosebud
Posts: 625
Joined: Wed Mar 14, 2012 5:24 pm
Location: Steyning, West Sussex

Post by rosebud »

A shame Nemo but never mind. Thanks for responding to this.

I should have been alert earlier myself .....

To be honest I don't plan to buy another holiday let but I do think they should be treated differently to regular buy to lets.
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