Furnished Holiday Letting

These tax favourable rules have been saved and do continue to apply but the rules you have to meet have become more difficult from April 2011. Firstly, the property must be available for commercial/ profitable lettings to the public – not to you – for at least 210 days per year and it must actually have been let commercially/profitably for at least 105 days per year. In addition, if a UK property shows a loss it can only be offset against future profits from your other UK furnished holiday lettings. This means there is no claim against your other rental profits, other earned income or any capital gains!

The old rules do still apply for the 2010/11 tax year.