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Gove closes tax loophole on second homes

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    Gove closes tax loophole on second homes

    I imagine that the residents of areas like Cornwall are delighted with this news as it will / should mean more money for the local area.

    Full report here:

    https://www.gov.uk/government/news/g...n-second-homes

    #2
    Originally posted by Martin@AS Financial View Post
    I imagine that the residents of areas like Cornwall are delighted with this news as it will / should mean more money for the local area.

    Full report here:

    https://www.gov.uk/government/news/g...n-second-homes
    No he hasn't he's reduced the rules by 50%

    It used to be available 210 days and let for 105 days - now its available 140 days and 70 days let see HS253 Furnished holiday lettings (2018) - GOV.UK (www.gov.uk)
    merely at clientco for the entertainment

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      #3
      That's strange - I thought business council tax rates were far more than domestic council tax
      Work in the public sector? Read the IR35 FAQ here

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        #4
        Originally posted by OwlHoot View Post
        That's strange - I thought business council tax rates were far more than domestic council tax
        Holiday lets often/usually qualify for small business rate relief which means they don't pay any rates at all. Total scam, and that's before we get on to the grants they were given over Covid. No wonder locals get the hump.

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          #5
          Originally posted by mattster View Post

          Holiday lets often/usually qualify for small business rate relief which means they don't pay any rates at all. Total scam, and that's before we get on to the grants they were given over Covid. No wonder locals get the hump.
          Only if they are owned/run by a business, surely? And if you run your BTL through a business you could probably have got the £10k grant also?
          Originally posted by MaryPoppins
          I'd still not breastfeed a nazi
          Originally posted by vetran
          Urine is quite nourishing

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            #6
            Originally posted by d000hg View Post

            Only if they are owned/run by a business, surely? And if you run your BTL through a business you could probably have got the £10k grant also?
            I believe the "loophole" that they are trying to close is something along the lines of you only used to need to "offer" your house for rent, and then only for a certain number of days per year. So of course a lot of people did it (on paper), took the rate rebate and then never or rarely rented it out. Now I believe it actually has to be rented out for a certain number of days but I can't be bothered to Google it for details. It was a rort, pure and simple, and a lot of people ended up paying no council tax for years, and also accepting Covid grants, for what were in effect second homes and not businesses at all.

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              #7
              Originally posted by d000hg View Post

              Only if they are owned/run by a business, surely? And if you run your BTL through a business you could probably have got the £10k grant also?
              It's easy to set up a 'business', you don't have to incorporate...

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