Holiday Accommodation: Taxation
The question
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of terminating the furnished holiday lettings tax regime on local (a) economies and (b) employment in tourist destinations.
Answered by James Murray
The Government will abolish the Furnished Holiday Lets (FHLs) tax regime from April 2025, which will equalise the tax treatment of landlords’ property income and gains.
The government wants to support visitor accommodation alongside housing for long term-residents to rent or buy. Achieving this balance is crucial in supporting the tourism sector, and many of the people who work in the sector need access to local housing.
Verbatim has judged this answer against the question that was actually asked — answered, partly answered, or evaded. Sign in to see the verdict →