many tax advantages. A residential property situated anywhere in the UK can qualify as an FHL if it is let to the general public for at least 70 days a year in short periods of up to 31 days. So even a city flat can qualify. If your property qualifies as an FHL, you will benefit from business taper relief after two years. What is more, any losses you make on running the FHL business can be set against your other income, unlike losses on other let property |
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