Holiday lets - new tax legislation

From the 6th April 2010 the favorable tax regime enjoyed by many holiday home owners comes to an end. For those owners at looking at what they need to do now have a look at this new book published by Taxcafe.

Furnished Holiday Lets: Emergency Tax Planning Guide

By Carl Bayley
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Owners of furnished holiday lets enjoy special tax concessions and usually pay less income tax, capital gains tax and inheritance tax than anyone else.

However, these concessions will be abolished on 6th April 2010.

This unique guide explains exactly what you must do NOW to save literally tens of thousands of pounds in tax before the rules change.

It is essential reading for ALL landlords who own furnished holiday lettings in the UK and most of Europe.

Subjects covered include:

* A detailed look at all the tax benefits of furnished holiday lettings.
* How to continue enjoying these tax reliefs after April 2010 by making a few minor changes to your business.
* Five services you should provide to tenants to preserve your special tax status.
* How to obtain a tax repayment by creating a rental loss during the current tax year.
* How to completely avoid capital gains tax by passing property to your adult children before April 2010.
* How to benefit from Entrepreneurs Relief (10% capital gains tax)... without actually selling your property.
* Why transferring your properties into a company before April 2010 could save you a fortune in future tax.
* How one investor is saving over £120,000 by transferring his portfolio to a company.
* 7 ways to shelter the value of your furnished holiday lettings from inheritance tax.
* How one investor is saving £21,920 by carefully claiming capital allowances.
* The tax benefits of converting existing properties into furnished holiday lets before April 2010.
* Making back-dated claims as far back as 2003 on foreign furnished holiday letting property.
* The future tax landscape for owners of furnished holiday lettings after 6th April 2010.

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