Property News · March 31, 2024

‘This hits the wrong people. Rich second home owners who can afford to let them sit empty will carry on’


Jeremy Hunt’s abolition of tax relief for holiday lettings will do nothing to ease the UK housing shortage, say property ownersJen Boyle, a 64-year-old widow from Falkirk, owns and runs two small holiday lets on the Scottish island of Cumbrae, home to about 1,300 people. In the last tax year, the properties generated £15,000 in turnover, though Boyle’s personal profit was only around £5,000 after expenses.“I pay for heating, water rates, internet, new bedding, occasional repairs and for using the local launderette; I employ local cleaners, gardeners, a local guy who takes out my bins,” she says. “I only charge £420 a week in the high season. People who come to the island tend to be from the Glasgow area and generally don’t have a lot of money, so increasing my rates is not really an option.” Continue reading…

Source : theguardian.com
Read more…‘This hits the wrong people. Rich second home owners who can afford to let them sit empty will carry on’

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