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TonyTax, Tax Consultant
Category: Tax
Satisfied Customers: 15916
Experience:  Inc Tax, CGT, Corp Tax, IHT, VAT.
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I am a retired person who spends quite a bit of time

Resolved Question:

I am a retired person who spends quite a bit of time abroad.
I understand the allowances I can offset against rental income for income tax purposes if I let my furnished UK home as a residential letting.
I would like to know the situation if I were to live in the property for certain periods of the year and let it out for the periods I am not in residence - a partial holiday letting.Can I claim the allowances for the period the property is available for letting during the year?
Your help would be much appreciated.
Submitted: 1 year ago.
Category: Tax
Expert:  TonyTax replied 1 year ago.
Hi. Take a look at HS253 for the rules for furnished holiday lets. I won't go into the detailed rules as you appear to know those. If you use the property yourself, then the deductions for expenses and capital allowances would be apportioned between the periods of actual letting or those periods when it is available to let and the periods when you are in occupation which by definition cannot be periods when the property is let or available to let. Where the property is not available to let during the close season but you are not in occupation, then you can continue to claim expenses and capital allowances. I hope this helps but let me know if you have any further questions.
Customer: replied 1 year ago.
Many thanks thats very helpful. Your last sentence is interesting and could you let me know what sort of information I need to accumulate to make my tax return in order to justify my claims re income and allowances.
Expert:  TonyTax replied 1 year ago.
As far as apportioning the expenses and capital allowances is concerned, you should keep a diary to record actual periods of letting, periods of availability for letting, periods of occupation by you and periods when the holiday season is closed and the property is not occupied by you. You should keep a record of rental income and the invoices and receipts for relevant expenditure. You don't need to send those to HMRC unless they ask to see them. Take a look here for the type of expenses you can claim for a regular letting. In addition to those, you can claim capital allowances on equipment used for letting purposes, a generator for example, furnishings and furniture, fixtures and fittings etc.
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