Cottage
  • 01 Jun 2016

Many farms and landed estates include cottages which are let as furnished holiday accommodation. In the unpredictable British summer, such lettings can frequently turn a loss rather than a profit.

If you make a loss from your farm, that loss can be set against your other income in the same or the previous tax year, as long as the farm is run on a commercial basis. The use of farming losses against other income may be blocked if you don’t make a profit from the farm every six years.

When you make a loss from your holiday cottages the law is not so flexible. That loss can’t be set against your other income, such as from farming, even if the cottages are on the same farm. The holiday accommodation loss must be carried forward to set against future profits from the same holiday lettings business.

Maximising your state pension
Couple Planning Pension
Previous post
P11D or no P11D – Reporting
Audit and Assurance
Next post

21 thoughts on “Letting holiday cottages”

  1. Hello, i read your blog from time to time and i own a similar one and i was just wondering if you get a
    lot of spam comments? If so how do you protect against it, any plugin or anything you can recommend?
    I get so much lately it’s driving me insane so any assistance is very much appreciated.

    0mniartist asmr

  2. When someone writes an paragraph he/she retains the plan of a user in his/her brain that how
    a user can understand it. So that’s why this paragraph is outstdanding.
    Thanks! asmr 0mniartist

  3. Hi there, i read your blog from time to time and i own a similar one and i was just wondering if you get a
    lot of spam responses? If so how do you protect against it,
    any plugin or anything you can recommend?

    I get so much lately it’s driving me mad so any assistance is very much
    appreciated. 0mniartist asmr

  4. My partner and I absolutely love your blog and find the majority of your post’s to
    be just what I’m looking for. Would you
    offer guest writers to write content for you personally?
    I wouldn’t mind writing a post or elaborating on some of
    the subjects you write concerning here. Again, awesome website!
    0mniartist asmr

  5. Hi! Someone in my Myspace group shared this website with
    us so I came to check it out. I’m definitely enjoying the information. I’m book-marking and will be tweeting this
    to my followers! Terrific blog and amazing design.

  6. Hello there! This article could not be written much better!
    Going through this post reminds me of my previous roommate!
    He always kept talking about this. I am going to send this post to him.
    Fairly certain he’ll have a great read. Thank you for
    sharing!

  7. What’s up to every body, it’s my first pay a visit of this web site;
    this web site consists of remarkable and truly good information designed for readers.

  8. What’s Going down i am new to this, I stumbled upon this
    I have found It absolutely useful and it has aided me out loads.
    I’m hoping to contribute & help different customers like its helped me.
    Great job.

  9. Awesome blog you have here but I was curious if you knew of any message boards that cover the same topics discussed here?
    I’d really like to be a part of group where I can get
    feed-back from other experienced individuals that share the same interest.

    If you have any suggestions, please let me know. Thank you!

  10. hello!,I really like your writing very so much! share we keep up
    a correspondence more about your article on AOL?
    I require an expert in this house to resolve my
    problem. Maybe that’s you! Looking ahead to look you.

  11. It’s genuinely very difficult in this busy life to listen news on TV, so I
    simply use world wide web for that purpose, and obtain the latest information.

  12. Hi! I could have sworn I’ve visited this web site before but after going through some of the posts I realized it’s new to me.
    Nonetheless, I’m certainly pleased I came across
    it and I’ll be bookmarking it and checking back frequently!

  13. I used to be suggested this web site by my cousin. I
    am not sure whether or not this publish is written by way of him
    as nobody else recognise such certain approximately my problem.
    You are wonderful! Thank you!

Leave a Reply

Your email address will not be published.