Re: 140 Days Tax Free

For topics that are specific to the UK and Ireland, please go here
rotaman
Posts: 34
Joined: Sun May 15, 2016 7:50 am
Location: denbigshire

Re: 140 Days Tax Free

Post by rotaman »

I don't know if am reading it right, reading a book on Holiday Lets and a paragraph on tax for uk say you can rent out as holiday let for 140 day before you pay any tax, am taking it then that the first 140 days are tax free! is this correct,
canal boating 'the fastest way to slow down'
RichardHenshall
Posts: 414
Joined: Sat Sep 05, 2009 4:06 pm
Location: Luz, Algarve

Post by RichardHenshall »

No.

You need to let for 140 days to qualify for the (preferential) tax treatment of the Furnished Holiday Lettings scheme (see here).

If you let for fewer days, you just pay tax as with any other rental income.
rotaman
Posts: 34
Joined: Sun May 15, 2016 7:50 am
Location: denbigshire

Post by rotaman »

Thanks for that Richard ... great help
canal boating 'the fastest way to slow down'
Ludwig
Posts: 19
Joined: Fri Nov 27, 2015 10:58 am
Location: North Norfolk

Tax

Post by Ludwig »

I think the current rule is that the property has to be available for letting for 210 days a year (it was 140 some years ago) and actually let out for at least 105 days. But there is a period of grace for new lets.
Post Reply