17th November 2009

Furnished Holiday Lettings Update

Following Shropshire Tourism's and other groups lobbying of the Department of Culture, Media and Sport, please see below an update from the Tourism Management Institute's members newsletter.

Work continues to help ensure that, before the Furnished Holiday Letting Rules are repealed in April 2010, steps are taken to ensure that the UK's self-catering sector is not adversely impacted.

In meetings with Treasury and HMRC and with the Tourism Minister, three options have been put forward for the resolution of this issue;

Extend and Raise the Thresholds for the Rules
Classify Self-catering as a Trading Business (subject to certain criteria)
Easing HMRC Guidance on Defining Trading Businesses
These will be pursued when the draft legislation and guidance on the repeal of the Rules is issued as part of the Pre Budget Report due in mid to late November.

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