Accountants for furnished holiday let owners
Holidays lets continue to be popular and appeal to a broad range of investors. Many are drawn to holiday lets due to the yields and tax advantages compared to buy-to-let, with the added bonus of being able to occasionally use the property.
Accountants for furnished holiday let owners
Holidays lets continue to be popular and appeal to a broad range of investors. Many are drawn to holiday lets due to the yields and tax advantages compared to buy-to-let, with the added bonus of being able to occasionally use the property.
In-depth, tailored property tax advice
Award-winning property accounting app
Fast, expert support from our accountants
Tax returns and accounts prepared and filed
A complete holiday let accountancy service, from just £59 per month
Our all-inclusive accountancy service has everything you need to manage your holiday let finances, and ensure you remain compliant with your tax obligations.
Tailored tax advice
One-to-one tax consultation phone calls with our property accountants are included, as standard.
Personal support
Your named account manager is just a phone call or email away, whenever you need them.
Tax returns included
Our team of experienced and qualified accountants will prepare and submit your accounts and returns.
Buy or convert
If you're buying to let, or converting an existing property, we're here to help with the tax advice you need.
Manage your holiday let finances with our innovative accounting app
There's no need to struggle with clunky spreadsheets, or complex software like Xero or QuickBooks.
Our service is built around our award-winning (and easy-to-use) property accounting app. From letting directly to tracking tax, it's the only app you'll need.
Expenses & mileage
Track and reclaim your property and personal expenses.
Bank statement feeds
Connect to your bank, securely, and keep your accounts up to date.
Works with agents
Outsource the heavy lifting, and let our app keep track of agent costs.
Direct lettings
If you also let directly, you can issue invoices and collect card payments from our app.
Everything you need, for a fixed monthly fee
Our fixed-fee accountancy service includes everything you need to manage your property portfolio's tax, accounts and compliance.
Personal Advisor
For personally owned portfolios
Includes:
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Your personal tax return
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Named account manager
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Online accounting app
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4 tax consultations per year
Company Advisor
For company owned portfolios
Includes:
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Company tax returns
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Named account manager
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Online accounting app
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4 tax consultations per year
Growth Advisor
For mixed or complex portfolios
Includes:
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All tax returns
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Named accountant
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Online accounting app
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Unlimited tax consultations
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Annual tax reviews
Interested in Provestor? Let's have a chat!
If you've got questions about our services, chat with one of our friendly team members today.
We'll talk through your goals, make sure we're the right fit, and help you choose the perfect Provestor service for you.
What is a furnished holiday let?
A furnished holiday let (FHL) is a type of short-term rental property which has a statutory definition. The reason it has a statutory definition is important because, if the test is passed, it allows you to access specific elements of the tax system which can be advantageous.
Broadly speaking, the rules state that a FHL must be available to let for 210 days per year (excluding time you spend there), be actually let for at least 105 days per year (excluding lettings to friends/relatives), and no more than 155 days of lettings over 31 days. As a Provestor client, we will assist you in determining the status of your property.
Furnished holiday let tax considerations
From April 2025, the government will abolish the Furnished Holiday Lettings tax regime, eliminating the tax advantage for landlords who let out short-term furnished holiday properties over those who let out residential properties to longer-term tenants. Read our blog for the latest updates >
Currently, if your property is classified as a FHL, you can:
Apply mortgage interest relief, meaning you can offset your mortgage interest from your profit
Claim 'capital allowances', which means the costs of furnishing/refurbishing the property are tax-deductible
Class the profits as earnings, allowing you to make tax-advantaged pension contributions
Claim Capital Gains Tax relief when you sell the property
If you plan to build a portfolio of FHLs, or have other business interests, you may have to register for VAT and charge this to your guests. The current threshold for VAT registration is £85,000 per year, and VAT on holiday lets is charged at 20%. This may make your holiday let less attractive or less profitable compared to other non-VAT registered holiday lets in your area.
If you're thinking of investing in holiday lets, or need advice on how the holiday let tax changes will impact your portfolio, book a tax consultation with the Provestor tax team.
Holiday let tax resources
Budget 2024: Furnished Holiday Let Tax Changes
Provestor's Head of Tax, Nadeem, unpacks the impact of the holiday let tax changes and advises how FHL owners can assess the impact on their investment strategies and plan ahead.
Read post
Spring Budget 2024 FHL Tax Changes: Is this the end of holiday lets? | The Property Tax Show E09
In episode #9 of The Property Tax Show, James, and Nadeem, discuss the furnished holiday let tax changes announced in the Budget, plus 5 key ways it will affect FHL investors.
Watch episodeGuide to furnished holiday let tax
Written by our property tax experts, this guide explores the tax advantages of furnished holiday lets, plus tax allowances and key considerations before investing in your dream holiday property.
Read guideFuture-proof your holiday let. Talk to the pro’s today.
If you need tax advice for your holiday let, you need Provestor. We'll help you navigate the upcoming tax changes and make sure your investments are set up for success.
Book your expert holiday let tax consultation today
A bespoke tax consultation to understand the impact of the March 2024 budget on your holiday lets. Includes:
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A review of your current tax position
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An overview of the upcoming changes
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The impact of the tax changes on your portfolio and long term goals
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Suggested approaches for mitigating the tax changes
Book now and save £50.
Offer ends 31st March 2024.
- 45 minutes with a qualified advisor
- Call recording emailed to you
- Money-back guarantee