| 释义 |
furnished holiday accommodation
Domestic accommodation that is let on a commercial basis and available for letting for at least 210 days each year and actually let on short lets (less than 32 days) for at least 105 days. (Income Tax (Trading and Other Income) Act 2005 s 325). When this arithmetical definition is satisfied, the income arising is treated as if it were trading income. A restricted form of loss relief is available, pension contributions can be made on the basis of the letting income, and the income qualifies as earned income (Finance Act 2011 sch 14). Furnished holiday accommodation attracts capital gains tax relief in the form of rollover relief and holdover relief. |