With the holiday let industry preparing to deal with the biggest tax changes in more than 40 years, Zeal and Holiday Cottage Handbook are working together to help owners take advantage of the tax relief available to them, while there is still time.
It is vital to review your capital allowances – and ensure you have not missed a tax relief claim – before it’s too late. To secure your savings before the deadline, speak to Zeal today:
Many holiday let owners don’t realise there’s an extra level of capital allowances that can be claimed on the cost you incurred to buy, build, convert, or refurbish your property – and it doesn’t even matter if it was years ago. This is for embedded ‘fixtures’ in the fabric of the property, like heating and electrical systems, kitchens, bathrooms, and more.
Around 80% of holiday let owners have not yet claimed and are sitting on thousands of pounds in tax and cash savings.
The reason most owners have not yet claimed is because it is not a service a general accountant can typically provide. You need quantity surveyors and capital allowances specialists like Zeal to determine qualifying expenditure. There’s also a misconception that claiming capital allowances will result in more tax due on the sale of your property – but this is NOT true.
When the FHL tax regime ceases from April 2025, capital allowances will no longer be available to holiday let owners. Time is running out to review and claim the tax savings available to you.
To gain a better understanding of this specialist tax relief, what ’embedded fixtures’ qualify, the claiming process, Zeal's credentials and methodology, plus more, click here to download Zeal’s free capital allowances guide.
Any tax benefit secured before April 2025 can continue to be claimed even after the rules change, and can also be offset against tax due on ANY property income, not just furnished holiday lets. You could also be due a cash rebate from HMRC for overpaid tax.
As Chartered Tax Advisors with unrivalled industry knowledge and expertise in holiday let taxes and capital allowances, Zeal are the go-to tax experts in the FHL sector. Plus, with no upfront costs and a paid-by-results service, there is no risk in having a chat with their team – it could save you thousands of pounds!
Zeal Tax are offering HCH subscribers a free 15-minute consultation to help you identify if you have any unclaimed capital allowances in your property. If you do, Zeal can provide you an estimate of your tax savings and the next steps.
Have you read Zeal’s e-book? Tax Changes for Furnished Holiday Let Owners was written by Zeal’s Managing Director and Tax Director, Matt Jeffery. This extensive resource will give you a thorough understanding of everything owners need to know about the forthcoming changes, ways you can mitigate the impact on your business, and actions to consider now.
Get in touch with the Zeal team today:
Call: 01633 742243
Email: hch@gozeal.co.uk
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