»Ê¹ÚÌåÓýapp

»Ê¹ÚÌåÓýapp furnished holiday lettings rules cease to apply in tax years commencing on or after 6 April 2025 for Income Tax and for Capital Gains Tax, and for accounting periods commencing on or after 1 April 2025 for Corporation Tax and for Corporation Tax on chargeable gains.

Treatment before repealÌý

FHLs were treated in the same way as a trade for the purposes of capital allowances. FHL businesses were entitled to capital allowances on plant and machinery such as the furniture, white goods, etc. within the property whereasnon-FHL property businesses did not and still do not qualify for capital allowances on these items (see CA23060).ÌýÌý

Treatment after repealÌý

»Ê¹ÚÌåÓýapp special treatment of furnished holiday lettings (FHL) for capital allowances purposes no longer applies for periods of account commencing on or after 6 April 2025 for Income Tax and for accounting periods commencing on or after 1 April 2025 for Corporation Tax and there are transitional arrangements see -CA20025 - Plant and Machinery Allowances (PMA): introduction: furnished holiday lettings business (repealed)Ìý