What is a Self Catering Holiday Property?
Let’s start the discussion with what exactly is a ‘Holiday Let / Self Catering’ Property. A holiday Let/ Self Catering property is sometimes described as a ‘furnished holiday letting’ – a term referred to by HM Revenue and Customs. These are properties let for periods of anything from days to weeks rather than the more common minimum 6 month letting done for normal buy-to-lets. The HM Revenue and Customs definition is important because they treat these properties as a business rather than as an investment which means there are currently important tax advantages over longer term lets. The tax treatment of holiday lets is different to the tax treatment of longer term lets just now BUT it has been announced that the different treatment will stop. Details of the changes have yet to be provided. The definition of a Holiday Let/ Self Catering property ( as defined from the 2005-2006 tax year when the definition was updated) is: • available for holiday letting to the public on a commercial ba
