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Can't see why it wouldn't be on the cards or is there an exemption reason (eg. not someones main home) so that holiday lets will always be S24 free?
Holiday lets are regarded as a completely different type of business - a trading business - to normal BTL and therefore will not be subject to S24.See - Guide to sourcing & setting up a holiday letHoliday let - every portfolio should have one
Vanessa Warwick Landlord and Co-Founder of PropertyTribes.com **If you have got value from Property Tribes, find out how you can support it in remaining a free to use community resource**
I've been looking closer at holiday lets V, but I just don't trust Govt.'s not to incorporate them into S24.
Adam every thing is up for grabs
In some parts of the UK Holiday homes are not liked by the Locals
They are seen as taking housing stock from the locals ???
Its a bit like Generation Rent voice has been listened too hence S24
Is it safe to invest in a Company ?? no one really know the truth of what the Govt will do next
This is precisely why I am not buying a thing in the UK its very uncertain
Who would have ever thought the Govt would Cap Energy but they have
The Tories have taken the old ground held by Labour and there Politics are far more left than ever before
Its working families who they are looking to support (THE JAMS)
Not Business and Not Landlords that's for sure.
Learn Change and Adapt ?????
Furnished Holiday Lets are classified as a trade, and have a different tax treatment to an individual letting a standard buy to let property. They are not affected by Section 24, and therefore, mortgage interest and finance costs remains claimable in full for these property types.
We covered this area in a recent feature on Property Tribes, which can be viewed by clicking here.
The situation is very fluid at the moment, and naturally, it cannot be definitively confirmed that S24 will not widen its grasp as time goes on and/or the introduction of further measures.
There have been plenty of whispers and rumours of what is happening next, but as DL says, it is uncertain times, and very much a case of keeping a close eye on developments, and adapting and advising as best as can be done.
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