Category: Short Term Lets
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Smart Move? Holiday Let Owners Ditch Council Tax for Business Rates
As the cost of living continues to bite, many holiday homeowners are making a switch, turning their backs on ever-increasing council tax bills and opting for the business rate system instead. A Growing Trend According to estate agents Hamptons, 78,000 holiday lets were registered for business rates on March 31st 2024 – a significant jump…
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Edinburgh’s Short Lets Crackdown – Is It Working?
Edinburgh’s controversial short-term let licensing scheme is facing a review this summer, and it could mean big changes for Airbnb hosts and short-let landlords. What’s Happening? The council is holding a public consultation on the current short-term let licensing scheme. This comes after a decision last year to review the policy after a year in…
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Airbnb Host? Get Ready for a New Holiday Let Tax Regime!
Get ready, holiday let landlords, because the taxman is coming for you! From April 5th, 2025, the rules for how you declare your holiday let income are changing. These changes could hit your pocket hard, so it’s crucial you understand what’s happening and how to prepare. Get Ready for a Tax Squeeze! The government is…
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Forget Cornwall, Northumbrian Coast is the New Hot Spot for Holiday Let Investors
Are you looking to invest in a holiday let and reap those rental rewards? Then you might want to look beyond the Cornish coast and head north to Northumberland. That’s right, the land of Hadrian’s Wall and dramatic coastal landscapes is becoming the new hot spot for holiday let investors. Northumberland’s Profit Rise A new…
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Short-Term Let Profits Drying Up?
Is the party over for holiday let landlords? New research shows that while the number of holiday lets is booming, the number of people booking them is dropping, meaning many landlords could be facing a financial headache. It seems that many landlords have been drawn to the promise of higher profits from holiday lets. Over…
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Airbnb Warning – Tax Changes & Empty Properties Could Leave Landlords Out of Pocket
Landlords, especially those running Airbnb and other short-let properties, are facing a double whammy: new tax rules and falling occupancy rates could leave them with less money in their pockets. Tax Trouble on the Horizon The government has axed tax breaks for Furnished Holiday Lettings (FHL) properties, meaning landlords will have to pay more tax…
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Crackdown on Airbnb? Taxman Targets Short-Term Let Landlords
HM Revenue and Customs (HMRC) has dramatically increased its scrutiny on landlords who rent out their properties through Airbnb and other short-term rental platforms. This initiative highlights the government’s effort to ensure tax compliance in a rapidly growing sector. The Daily Telegraph, after a Freedom of Information request to HMRC, revealed a stark increase in…
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Maximise Your Holiday Home Earnings with These Top Investment Tips
Renting out a holiday home has become a lucrative option for many property owners. With a potential pre-tax income of £24,500 annually, according to Sykes Holiday Cottages, a few strategic investments could significantly increase this revenue. Here’s a breakdown of the most effective enhancements and their financial impacts to help you make the most out…
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New Rules Shake Up Holiday Home Market, Cause Potential Mortgage Troubles
A significant shake-up is on the horizon for the holiday let market due to new regulations proposed by Michael Gove, the Levelling Up Secretary. Set to empower local councils in England with new authority, these rules will allow them to designate specific areas where homeowners must obtain planning permission before converting their properties into holiday…
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Cotswolds Crowned King of Holiday Lets
The picturesque Cotswolds region has clinched the title of the most lucrative area for holiday lets in the UK, according to a report by Sykes Holiday Cottages. This stunning area, known for its rolling hills and historic villages, has surpassed other popular destinations, offering property owners the highest average annual income for their rentals. Owners…