The growing appeal of holiday lets!

Tax relief on standard buy-to-lets mortgage interest falls each year and by April 2020 landlords will no longer be able to offset mortgage interest against profits but will receive a 20% tax credit instead.

Operating as a furnished holiday let means that you can still continue to offset all expenses, including mortgage interest, against profits which is why more people are turning to this as a profitable way forward for their property portfolios.

However, it is worth remembering that the property must be available to let for 210 days of the year and actually be let for 105 days – friends and family at “mates” rates do not count towards this!

For advice about investing in property, taxation and accounting please do not hesitate to call Winchester Bourne on 01962 715671 or email sarah@winchesterbourne.com

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