Course Details

In the March 2024 Budget, Chancellor Jeremy Hunt dropped a bombshell on the furnished holiday letting industry when he announced the abolition of the industry’s special, and highly beneficial, tax regime from April 2025. The next few months provide a crucial opportunity to make the most of the regime while it still lasts, plan for the changes ahead, and mitigate their impact. 

 

In this session Carl Bayley covers the following topics:

 

  • A recap of the current furnished holiday lets regime and the advantages it provides for Income Tax, Capital Gains Tax, and Corporation Tax purposes
  • The impact of the regime’s abolition: what will change
  • What owners of furnished holiday lets can do now to prepare for the change and mitigate its effects
  • Trading status for furnished holiday letting businesses: is it achievable, is it desirable?
  • The pros and cons of incorporating a furnished holiday letting business.

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CPD Course Speaker

BSc FCA, Author and Presenter

Carl Bayley

Carl Bayley is the author of a series of ‘Plain English’ tax guides designed specifically for the layperson and the non-specialist (available from www.taxcafe.co.uk). His particular speciality is his ability to take the weird, complex world of taxation and set it out in the kind of clear, straightforward language taxpayers themselves can understand. Carl takes the same approach when speaking on taxation, a role he frequently undertakes with great enthusiasm, including his highly acclaimed annual ‘Budget Breakfast’. He has spoken on taxation on radio and television, including the BBC’s ‘It’s Your Money’ programme and BBC Radio 2’s Jeremy Vine Show.

Carl is a past chairman of the Tax Faculty of the ICAEW and former member of the institute’s governing Council and Board. Aside from his tax books, Carl is an avid creative writer and is looking forward to the publication of his first novel, Trinity of Souls, in January 2024. When he isn’t working, he takes on the equally taxing challenges of hill walking and horse riding: his Munro tally is now 106 and, while he remains a novice rider, his progress is cantering along nicely.

Carl lives in the Scottish Borders, where he enjoys spending time with his partner Linda. He has three children, and his first grandchild arrived in April 2021