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Did you know, if you buy a furnished holiday let, rather than a buy-to-let property, you can claim capital allowances on all the furnishings and fittings? In fact, the average capital allowance fixture claim on a furnished holiday let means your rental profits could be tax-free for up to the first five years.
Did you know, if you buy a furnished holiday let, rather than a buy-to-let property, you can claim capital allowances on all the furnishings and fittings?
Property tax specialists carried out a recent review of the Byron development at Woolacombe Bay and estimate that owners could claim as much as 27 % of the buying price in capital allowances.
For example, if you bought a 3 bed apartment for £558,500, you could claim £149,678 (on a projected capital allowance of 26.8%), giving you a cash saving of £67,355.
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