Taxation magazine queries ― property income

Produced by a Tolley Owner-Managed Businesses expert

Owner-Managed Businesses

Guidance

The following guidance note provides details of queries raised on property income in the last few years in the Readers’ Forum section in Taxation magazine with a link to the full replies. It should be noted that the response to the queries is at a point in time and all relevant legislation should be confirmed as being currently applicable.

Will cottages / glamping / chalets be treated as a trade post FHL abolition?

My client has a family-run farm with a vibrant tourist offering which developed after the coronavirus (COVID-19) lockdown. This includes cottages, camping / glamping facilities, cycling, tours of the farm including the environmental projects and trekking. They are aware of the Spring Budget and of the possible abolition of the furnished holiday let (FHL) tax advantages which is due to go into the next Finance Bill. We must therefore look at the tax treatment of the trade of tourism. The cottages, chalets and glamping units are part of the trading operation and similar to a hotel with stays of only a couple of

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