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The current tax benefits for the letting of properties as short-term holiday lets (known as Furnished Holiday Lets – FHL) is to be abolished from April 2025. The changes will take effect on or after 6 April 2025 for Income Tax and for Capital Gains
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The limit on Income Tax reliefs has applied since 6 April 2013. This measure was the first time a limitation to existing reliefs had been introduced.
The cap is set at the greater of 25% of income or £50,000. This limit applies to the total amount
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If you believe you have overpaid tax to HMRC, you can typically claim a tax refund for the excess amount. The process for making a claim varies depending on factors such as whether you submit a self-assessment return and how much time has passed
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HMRC has been busy promoting the benefits of using its app. A new advertising campaign launched by HMRC is targeted at 18 to 34 year olds and showcases how the app can help them with their tax affairs and finances.
HMRC’s free tax app is available
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