UK Chancellor Jeremy Hunt abolishes £300m tax break for holiday let landlords in Cornwall and the Lake District to ease housing crisis and help locals.

UK Chancellor Jeremy Hunt scraps £300m tax break for holiday let landlords in bid to ease housing crisis and help locals in seaside towns, including Cornwall and the Lake District. The furnished holiday lettings scheme currently allows landlords to deduct full mortgage interest costs and pay lower capital gains tax, but will be abolished to encourage fewer investors to buy holiday homes and existing owners to sell.

March 06, 2024
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