Saturday, 26 September 2009

Overseas holiday letting losses

Under new HMRC Guidelines you may be able to claim these losses against other income often leading to a tax refund.

The requirements are:


  • The Property must be situated in the European Economic Area but not the UK.
  • Let and Furnished but not empty
  • Available for letting for at least 140 days per year.
  • Actually let for at least 60 days in the year.
  • Not normally occupied by one tenant for more than 31 days for at least 7 months of the year.


Time Restrictions:

HMRC have indicated that the cut off date to claim these losses for earlier years is the 31st July 2009.
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