Furnished Holiday Lets: The End of an Era (Jun 24)
Category: Tax | Duration: 1hr | Tag: VODATSUK24D1S5 | Type: Video | Course Level: Intermediate | Speaker: Carl Bayley | Date: 04/06/2024 14:30
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.
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 layman and the non-specialist. His particular specialty is his ability to take the weird, complex, and inexplicable 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’ for the Institute of Chartered Accountants. He has spoken on taxation on radio and television, including the BBC’s ‘It’s Your Money’ program and BBC Radio 2’s Jeremy Vine Show.
Carl began his career as a Chartered Accountant in 1983 with one of the ‘Big 4’ accountancy firms. After qualifying as a double prize-winner, he immediately began specialising in taxation. He worked for several major international firms until beginning the new millennium by launching his own practice, through which he provided advice on a wide variety of taxation issues; especially property taxation, inheritance tax, and tax planning for small and medium-sized businesses, for twenty years, before deciding to focus on his favourite role as author and presenter.
Carl is a former Chairman of the Tax Faculty of the Institute of Chartered Accountants in England and Wales and a member of the Institute’s governing Council. He is also a former President of ICAEW Scotland and a member of the ICAEW Board. He has co-organised the annual Practical Tax Conference since its inception in 2002.
Carl takes the same approach when speaking on taxation, a role he frequently undertakes with great enthusiasm, including his highly acclaimed annual ‘Budget Breakfast’ for the Institute of Chartered Accountants. He has spoken on taxation on radio and television, including the BBC’s ‘It’s Your Money’ program and BBC Radio 2’s Jeremy Vine Show.
Carl began his career as a Chartered Accountant in 1983 with one of the ‘Big 4’ accountancy firms. After qualifying as a double prize-winner, he immediately began specialising in taxation. He worked for several major international firms until beginning the new millennium by launching his own practice, through which he provided advice on a wide variety of taxation issues; especially property taxation, inheritance tax, and tax planning for small and medium-sized businesses, for twenty years, before deciding to focus on his favourite role as author and presenter.
Carl is a former Chairman of the Tax Faculty of the Institute of Chartered Accountants in England and Wales and a member of the Institute’s governing Council. He is also a former President of ICAEW Scotland and a member of the ICAEW Board. He has co-organised the annual Practical Tax Conference since its inception in 2002.