Is anyone else concerned about the tax changes?

[Windy]

EASCO NEWS SPECIAL EDITION
The proposal to abolish the Furnished Holiday Letting Rules has been dropped from the Finance Bill in a last- minute parliamentry deal to enable the Bill to pass into law before the general election on May 6th.
EASCO News understands that the qualifying threshold will be raised to 20 weeks, so the rules will only apply to properties that are actually let for 20 weeks in the year. Currently the rules apply to properties that are actually let for 10 weeks in the year.

So are they dropping the repeal AND amending the law so the qualifying limit is 20 weeks.

I'm confused

[greenbarn]

I'm confused

Windy, I fail to understand how you, or indeed anyone, can possibly be confused by the FHL legislation, which has been very clearly communicated from its inception, with considerable consultation and openness, and with a view to being fair to all. Our Government has shown in their handling of this matter, as indeed in all matters, the sort of qualities that will ensure their safe return to power, and to continue in a position to do what is best for all of us.

Hang on - I dreamt all that, didn't I?

[Windy]

ooops- my mistake GB

What has actually been very instructive to me has been to see how democracy works (or make that "doesn't work") with relation to a matter that directly affects me.

Watching the stupid way in which the government has tried to get out of paying some tax relief to UK tax payers based in Europe, and then their idiotic and inconsistent "justifications" has made me lose a huge amount of faith in parliament. It has been evident throughout this that equitable treatment by the the law is meaningless to these people once they get a money grabbing idea into their heads.

Sadly my own MP who is known locally as "a good constituency MP" has been a waste of time too. I have tried to get him to do more than just forward my emails and then photcopy the standard letters he gets back in reply, but to no avail. He wouldn't even sign the EDM even though his constituency includes seaside holiday resorts.

The Tourism bodies have mostly (and unsurprisingly) shown themselves to be flaccid and useless as well. Visit Britain, Enjoy England, Love London, or whatever they have narrowed themslelves down to this week particularly so.

EASCO have been a notable exception here, getting the bit between their teeth (even though I don't really have a clue about how or why I'd join them and their web site doesn't help much. I see you are a memeber GB - does it cost much and would you recommend it?)

Winterrule/ John Endacott has also carried the flag here where otheres have failed.

All in all this has been a salutary lesson in how not to legislate. The quicker they can bury this and do what was recommended by the industry itself the better

HMRC continues to support troubled businesses

Do you think they mean the government?

[greenbarn]

It certainly shattered any faith I might have held in the democratic process, starting with the discovery that you may NOT contact a Minister directly, you may only contact your constituency MP who will forward your missive. Except that I didn't know that, so my email to the Tourism Minister simply went unacknowledged. But then, so did attempts to contact my own MP.

As for EASCO, I guess it's much like any trade body - if everyone belonged they'd have the resources to do more, but why bother? Basically I just get a newsletter from them with snippets of sometimes useful information, and they have produced a sample booking T&C's which has been checked for legality, but value for money is difficult to reconcile - but then I think it was only around the forty quid a year mark. It does seem that they and their other regional counterparts (and we've seen some postings on here from WASCO, the Welsh equivalent) have put in a big chunk of work on the FHL fiasco, and it would be hard to believe that hasn't had some effect. I'd quite like to see them grow to a point where they could comfortably do the job that we currently hope other bodies like VB might do.

[harcourtv57]

Greenbarn and Windy - this is good news - I think isn't it??

And I completely echo your views on 'democracy' and local MPs - my faith, such as it was, remains severely shattered as well as my long standing party allegiance. At least my MP signed the EDM but other than that just passed my messages on to Mr Timms and Mr Timms (worse than useless) replies back to me.

[greenbarn]

Greenbarn and Windy - this is good news - I think isn't it??

Sort of, but here's an extract from today's update from John Endacott of Winterrule:

Following sustained pressure on the Government, as part of its compromise with the Opposition, the Treasury has today announced that it will be shelving the controversial change to the tax treatment of FHLs. However, we must assume that these changes will be re-introduced in some form later in the year.

So confusion still reigns - would the changes be reintroduced with the 20 week letting limit as suggested elsewhere? And if so, would that encourage owners who weren't genuinely looking to run a business simply to drop their rates to a level where the rest of us couldn't compete, just so they'd get the worthwhile tax breaks?

Ah, what the hell. The sun is shining, it's a lovely Spring evening, there's a Red Squirrel on the bird-proof feeder, and the newborn lambs are in the adjacent field. I can go back to being grumpy tomorrow.

[harcourtv57]

Yes I must admit there is the question about it being re-introduced

I too am confused about whether the 20 week limit is a definite or just under discussion

But it sounds as if you are certainly experiencing the joys of Spring where you are, not such a nice evening here but I can see the pear blossom buds bursting out on my little pear tree outside the window

[Big Sis..]

http://propertytalklive.co.uk/holiday-h ... ax-reliefs

''Just as the furnished holiday lettings tax reliefs were scrapped (6th April), the Conservatives may have prevented this change making it to Statute at all''.

[Windy]

From Ros's article

"But, the Conservatives must win the election in order for this amnesty to stand"

Can I just correct that to say Labour must not win. There is more than one option as we have seen over the last couple of weeks

[Windy]

http://www.timesonline.co.uk/tol/money/ ... 133564.ece

HOME information packs (Hips) are to be scrapped, the government announced last week, in a move welcomed by homeowners.

The agreement between the Conservatives and the Liberal Democrats, unveiled in full on Thursday, also confirmed that furnished holiday lets would keep generous tax breaks.

[Nemo]

Good news indeed!

[greenbarn]

Thanks for posting the link Windy. I was thinking of saying HIP HIP Hooray, but as my appalling attempts at humour usually get me into trouble I decided against it.