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Checking Furnished Holiday Let property occupancy

Checking Furnished Holiday Let property occupancy

The furnished holiday let (FHL) rules allow holiday lettings of properties that meet certain conditions to be treated as a trade for tax purposes. In order to qualify as a furnished holiday letting, the following criteria need to be met: The property must be let on a...
A reminder that NLW and NMW rates are increasing

A reminder that NLW and NMW rates are increasing

A reminder for our readers that the National Living Wage (NLW) and the National Minimum Wage (NMW) rates will increase with effect from 1 April 2024. The increase will see the NLW rate increased to £11.44 per hour, an increase of over £1 over the current...
Full-time and part-time contracts

Full-time and part-time contracts

As an employer, the tax and employment responsibilities you have for your staff will depend on the type of contract you give them and their employment status. Contract types include: full-time and part-time contracts fixed-term contracts agency staff freelancers,...
The Valuation Office Agency tackles holiday lets

The Valuation Office Agency tackles holiday lets

The Valuation Office Agency (VOA) is writing to some owners of self-catering holiday lets that are assessed for business rates. They are doing this because they need further information about the income and expenditure of these properties. Last year, the VOA wrote to...
Tax Diary March/April 2024

Tax Diary March/April 2024

1 March 2024 – Due date for Corporation Tax due for the year ended 31 May 2023. 2 March 2024 – Self-Assessment tax for 2022-23 paid after this date will incur a 5% surcharge unless liabilities are cleared by 1 April 2024, or an agreement has been reached...