Tax
Benefits of Holiday Homes
Holiday
homes have some of the best tax treatment of any investment.
Income
Tax
• Expenses can be set against other income including PAYE
earnings resulting in a tax refund
• Profits can be set against losses from other property investments
such as buy to let
‘Substantial
tax refunds can be obtained from tax paid up to 3 years ago’
| Capital
Gains Tax |
| •
|
Capital
Gains Tax liability can be reduced by 75% using business allowances. |
| •
|
Any
Capital Gains qualify for rollover relief allowing you to defer
payment if you trade up to a better property |
‘A
married couple could make capital gains of up to £72000
per annum tax free by using annual allowances’
|
