Landlords

1.       Are landlords aware of letting relief?

 If you have been letting out all or part of your residential home you may not get full Private Residence Relief (PRR) when you dispose of it. But you may be able to claim another relief known as 'Letting Relief'.

letting relief

The maximum relief you can claim in the form of Letting Relief is the lower of:

·       £40,000

·       the amount of Private Residence Relief due

·       the amount of gain you've made on the let part of the property

2.       Furnished Holiday Letting (FHL) 

Do you rent out an FHL either in UK or in the EEA? If so, you might be entitled to greater tax relief than with your normal UK properties. 

If your property qualifies as an FHL, you can benefit from claiming rollover relief or entrepreneur’s relief on disposing of the property.

The profits earned from the FHL count as earnings for pension purposes.