When does a second home become a holiday home?

[lorca]

Item on Radio 4´s You and Yours today that may be of interest to you lot.

"When does a second home become a holiday home - new rules are to come into force which mean properties must be available to rent for longer and be advertised for longer periods"

Haven´t heard it yet so not sure if it only applies to UK properties

[Nemo]

As I understand it it affects everyone in EEA countries with a holiday let, but it concerns the change that was made by the last govt to holiday home tax rules, that hit the UK owners hardest. The new govt have now started a consultation on the matter. The topic below points everyone in the right direction.

viewtopic.php?t=12772

[lorca]

oh, sorry Deb - we´re not based in the UK any more and I´m not up to speed with the UK section.

Hope it´s OK news for you all!

[Nemo]

No problem at all lorca!
I think it will be ok for most of us on here, as it raises the bar for those of us that run "real" businesses, as opposed to those that are just looking to cover costs on their own holiday home.

[Big Sis..]

http://www.bbc.co.uk/news/business-10913365

Is this it [Im not up on it either Deb....... I rent out in the UK but not as Holiday homes]

[Nemo]

Yep that's the one in layman terms!

[olive]

"As I understand it it affects everyone in EEA countries with a holiday let," - the BBC article leads me to think that it only applies to UK owners and logic leads me to think that it only applies to UK owners who are resident for tax purposes in the UK.
This may be obvious to most but not, I suspect, to everyone.

[Windy]

As far as I am aware the proposals may affect UK tax payers who have holiday let property in the EAA.

[Hells Bells]

Windy, that is how I understand it too. My tax form for this year certainly indicates that EEA holiday lets have the same status as UK holiday lets. This was not the case before.