3rd April 2020
Business Rates – Furnished Holiday Lets
For those owning qualifying furnished holiday let accommodation subject to business rates, then there is a one year business rates holiday for 2020/21. However, the majority of furnished holiday lets would already have come within small business rates relief and so this may not be applicable (more of a benefit to large holiday centres) Please note if you pay council tax on your furnished holiday you will not be entitled to any relief in this regard.
Business Rates Grant Funding – Furnished Holiday Lets
What may be of greater relevance to a furnished holiday let owner (that falls within the business rate system), is the fact they may be entitled to receive a cash grant (which is taxable). The amount awarded could be as follows:
If you are deemed to be eligible you will be contacted by your local authority.
Please note, it is highly likely that any relief will be restricted on any private usage. We do not know yet the basis of calculating any restriction. However, we would advise actual private usage is disclosed when making an application.
When any further information is made available we will let you know.
Please remember we are here to help as much as possible through these challenging times. We will continue to keep you updated as further announcements are made over the coming days.
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