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Where Taxpayers and Advisers Meet

FHL by a limited company

Posts: 1
Joined: Wed Jul 21, 2010 4:44 pm

FHL by a limited company

Postby sammerchant » Fri Jun 01, 2018 10:04 am

If a company lets a property as a holiday home (short lets) and it is registered for VAT, it must charge VAT on the lettings. That much is clear. It was also advised that it could recover the VAT on items installed within the property.
However, what rules apply to the tax on the letting profit? A company will not necessarily have a year end that coincides with the tax year. Do the rules regarding 'availability' (210 days) and 'let commercially' (105 days) still apply, with modification?
Also, do the assets installed (furniture, white goods, TV etc) therein qualify for capital allowances or is relief given in some other way?

Posts: 3069
Joined: Sat Feb 01, 2014 3:26 pm

Re: FHL by a limited company

Postby bd6759 » Fri Jun 01, 2018 12:38 pm

see s266 CTA 2009

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