Holiday Accommodation: Taxation
The question
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of abolishing the furnished holiday let tax regime on local (a) economies and (b) jobs.
Answered by James Murray
The Government will abolish the Furnished Holiday Lets (FHLs) tax regime from April 2025. This will equalise the tax treatment of FHL and non-FHL landlords’ income and gains.
The Government wants to support the visitor economy alongside housing for longer-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.
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