A Conservative government will address FHL issue

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WASCO
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A Conservative government will address FHL issue

Post by WASCO »

In a speech delivered in Blackpool on Friday 12-Mar, George Osborne outlined how a Conservative government would support tourism.

In respect of FHL reliefs he said a Conservative government will take action to undo the damage caused by the abolition of the Furnished Holiday Lets reliefs in a way that is fiscally neutral, and consistent with the commitment to cut the deficit and restoring the public finances to health.

He also said his team is working with tax and legal experts to explore how this should best be achieved, including proposals to change the eligibility thresholds and amending the interest deductibility criteria.

Mr Osborne also said a Conservative government would cut the headline rate of corporation tax from 28p to 25p by abolishing complex allowances and reliefs; help small businesses by lowering the small companies’ rate to 20p, once again by reducing complex reliefs; help those who want to start a tourism business by introducing a new tax break that means no new business started in the first two years of a Conservative Government will pay Employer National Insurance on the first ten employees it hires during its first year; and to help tourism businesses expand, a Conservative government will overhaul the planning system to strip away red tape and give communities real incentives to approve proposed new developments.
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Wales Association of Self Catering Operators (WASCO)
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goosie
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Post by goosie »

call my a cynic but surely
a way that is fiscally neutral, and consistent with the commitment to cut the deficit and restoring the public finances to health
means that it will be done in about ten year's time, possibly?
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Windy
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Post by Windy »

In a speech delivered in Blackpool on Friday 12-Mar, George Osborne outlined how a Conservative government would support tourism.

In respect of FHL reliefs he said a Conservative government will take action to undo the damage caused by the abolition of the Furnished Holiday Lets reliefs in a way that is fiscally neutral, and consistent with the commitment to cut the deficit and restoring the public finances to health
.

He's a busy man as on the same day in Brighton he made an even firmer commitment
http://www.telegraph.co.uk/news/newstop ... -lets.html
George Osborne, the shadow chancellor, said that a Tory government would restore tax breaks to the owners of properties run as holiday lets.

Treasury plans due to take effect next month will remove tax breaks from furnished holiday lets, potentially leaving owners with huge tax bills.

The Tories said the tax change will affect 120,000 people and businesses. Industry groups have said it will cost thousands of jobs.

Mr Osborne made the commitment in a speech to a tourism industry conference in Brighton.



a Conservative government will overhaul the planning system to strip away red tape and give communities real incentives to approve proposed new developments.
Oh lord - and just when I thought we were going to get rid of John Prescott's mad house building programme.
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