Taxed returns

From April 6, 2010, furnished holiday lets will no longer be treated as business assets - which means owners will no longer be able to offset any losses they make on running them against their personal tax bills. The change will have the most effect on those who use the properties themselves for a large part of year; those letting for more than 16 weeks should be making a profit anyway. In all cases, however, it will remove a safety net. Report by The Sunday Times

Published: 3.8.2009