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?
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