Furnished Holiday Lets (FHL) Accountants
Fusion Accountants specialises in helping Landlords that let out or want to let out properties under the Furnished Holiday Lettings scheme and benefit from tax advantages from it.
There are lots of tax advantages for Furnished Holiday lettings such as:
Offset Losses from FHL personal income tax
This is particularly useful where FHL properties are run as Sole Trader business rather than through a Limited Company. If you have incurred significant losses kitting up your property then these losses can be offset against other personal income to reduce to you tax.
Claim Capital Gain Tax reliefs:
Business Asset Rollover Relief
The property must be available for commercial lettings as a holiday accommodation to the public for at least 210 days (30 weeks) of the tax year.
How we help?
Fusion Accountants provides a fully comprehensive service to its clients with Furnished Holiday letting businesses from initial review, eligibility criteria to tax planning and calculation of tax (including submissions).
Our service comes with;
- Dedicated Accountant with a specialism in FHL property to help you with assessment and planning
- Monthly / Yearly accounts to help you understand your business financial performance and position
- Tax Planning and Advice throughout the year to ensure you make the most of the tax releifs available to help minimise tax
- Award winning accounting software to help reduce your admin burden of managing you FHL property portfolio
- Personal Tax Returns calculation & submission
- Comprehensive Limited Company accounting service (if you are running your FHL through Ltd Company)
Jamal is one of our AAT qualified seasoned bookkeepers with over 3 years experience working with Ltd companies and sole traders. Jamal Joined our firm in 2018 starting with company secretarial duties. He has developed his skills and now prepares and submits VAT returns, company tax returns, personal tax returns and payroll for our clients. He has the proficiency to work with a range of accounting software including but not limited to: Quickbooks online, Freeagent and Xero.
Outside of work he enjoys nature walks with his dog and maintaining a fit and healthy lifestyle while also studying towards his CTA qualification.