15/08/2024
Here we go again! The new Labour government want to do what we prevented the old Conservative government from doing: abolishing the FHL (Furnished Holiday Let) tax regime.
It is not a loophole if you are running a professional holiday let business which is more-or-less a hotel. We need to reclaim our considerable business expenses and interest payments to stay in operation in the face of hugely inflated costs, rising taxes and reducing revenues.
Ashcombe Cottages have provided over 100 beds for +4,000 all-year-round guests in top-quality accommodation for over 27 years. We also provide a lot of lovely extras: swimming pools, games rooms, playgrounds, firewood, in-house chefs.
A lot of work, not some part-time job.
We employ around 10 local people all-year round and our guests spend a considerable amount of money in the local area.
Our properties are nearly all barn-conversions and are restricted by planning to only be for holiday accommodation use. They have never been "second homes".
HMRC would initially raise about £750m more tax, but then lose about £2bn of GVA (Gross Value Added) to GDP. Ultimately the cost to the rural economy and UK balance of payments would be disastrous.
Please take a minute to sign this MP petition:
Support our rural and coastal visitor economies, please don't abolish FHL Tax Allowances Welcome to the 'Please don't abolish the FHL Allowances and support coastal and rural tourism' Petition. Please enter your Postcode, this will automatically call up the details of your MP. You will then need to....
