Thurs 8 April 2010
Just as the furnished holiday lettings tax reliefs were scrapped (6th April), the Conservatives may have prevented this change making it to Statute at all. In the Government's race to finalise the Finance Act ahead of parliament dissolving before the election, shadow Chancellor George Osbourne fought the corner for British tourism and the self-catering industry, refusing to endorse the repeal of tax reliefs for holiday home owners and forcing the Government to retract the change, at least until the outcome of the election.
Ross Elder, managing director of holidaylettings.co.uk, comments:
What could this mean?
Broadening the eligibility criteria for the tax reliefs would have three positive impacts:
Ross Elder, managing director of holidaylettings.co.uk, says:
'This is a clear vote winner for the Conservatives if they can define how they will manage furnished holiday lettings for tax purposes in the future and this needs to include how they will incorporate British owners of holiday homes in the EEA. If they use this as one of their campaign leads it could also help raise further awareness of the matter amongst holiday home owners, many of whom are still in the dark following Labour's 'cloak and dagger' approach to introducing the changes, despite campaigns by Holiday Lettings, Visit Britain and The Tourism Alliance disputing the matter.
'The Tourism Alliance has done some fantastic work to highlight the size of the holiday lettings industry in the UK and the impact of Labour's attempted repeal, and as such has created a set of guidelines for an on-side government to act upon. To encourage and reward the holiday lettings industry, which is so entrepreneurial in nature, will have long term economic benefits both locally and nationally, especially in the arenas of tourism and hospitality.'
About Holiday Lettings:
Holidaylettings.co.uk was established in 1999 by Ross Elder and Andy Firth. Part of the TripAdvisor Media group since June 2010, the business continues to thrive as an independent brand from its offices in Oxford. Jonathan Dees has been managing director since March 2011.
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