Does it effect many of you here ? Listening to the news this morning again the UK government are trying to get much needed money, they are proposing that UK self catering tax breaks to owners in UK are to be abolished because (so they say!!) it could be breaking UE rules.MBK
Does it effect many of you here ? Listening to the news this morning again the UK government are trying to get much needed money, they are proposing that UK self catering tax breaks to owners in UK are to be abolished because (so they say!!) it could be breaking UE rules.MBK
IIRC, this was originally announced in the last Budget, to take effect from the next tax year (ie 2010-11) and removes the preferential treatment of holiday lettings vis-a-vis longer-term lettings. Am I correct?
I caught only the highlights but it seemed to refer to renovations but also I think you are not taxed on the income quite the same? possibly. Surely someone here could enlighten us,it does not effect me but I just like to know about these things. Edited.... this is an old link from when it was first mooted, but explains more than I knew before!!!
http://news.bbc.co.uk/1/hi/business/8013022.stm