Apr

Post Covid Staycation boom could be taxing

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Soaring demand for holiday lets as the UK plans for a ‘staycation summer’ is driving inquiries for tax advice from customers considering buying a second property, Handelsbanken Wealth Management (HWM) says.

But HWM advises would-be buyers to focus on rules that will allow them to qualify for tax breaks associated with furnished holiday lets (FHL) as distinct from traditional residential lettings.

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