New tax rules for second homes in Wales
Posted: Thu Jun 30, 2022 12:00 pm
https://gov.wales/new-tax-rules-second-homes
The new rules come in from April 2023, to qualify for business rates you will have to let your property for at least 182 nights a year, up from 70, it also has to be available for 252 days a year, up from 140.
This is some task for holiday let owners in Wales, I think most places in wales become ghost towns out of season. I struggle to get 140 nights booked per year, last year was a good year because of covid, I managed to get 187 nights, the best ever year. I'm not going to make that this year. Or am I the only one struggling to get 140 nights bookings??
I run a 4 bedroom let that sleeps 9, I reduced it from 5 bedroom sleeps 10 to reduce the workload.
I wonder if I would get more bookings if I reduce it to one family size, say, 3 bedroom sleeps 6, or 2 bedroom sleeps 4. Where could I get such data?? Open to any ideas or stats...
These new rules will decimate the tourist industry in Wales surely, tourism is the bread and butter of Wales, where do they get such ideas?? I think its just an excuse to get more council tax.
I read that some second home owners are claiming that their holiday home is a holiday let, so they don't have to pay council tax and get business rates relief. The government is cracking down on this loophole, so now real holiday let owners are going to suffer.
Could the rest of the UK be next?
Hard times ahead I think!!
The new rules come in from April 2023, to qualify for business rates you will have to let your property for at least 182 nights a year, up from 70, it also has to be available for 252 days a year, up from 140.
This is some task for holiday let owners in Wales, I think most places in wales become ghost towns out of season. I struggle to get 140 nights booked per year, last year was a good year because of covid, I managed to get 187 nights, the best ever year. I'm not going to make that this year. Or am I the only one struggling to get 140 nights bookings??
I run a 4 bedroom let that sleeps 9, I reduced it from 5 bedroom sleeps 10 to reduce the workload.
I wonder if I would get more bookings if I reduce it to one family size, say, 3 bedroom sleeps 6, or 2 bedroom sleeps 4. Where could I get such data?? Open to any ideas or stats...
These new rules will decimate the tourist industry in Wales surely, tourism is the bread and butter of Wales, where do they get such ideas?? I think its just an excuse to get more council tax.
I read that some second home owners are claiming that their holiday home is a holiday let, so they don't have to pay council tax and get business rates relief. The government is cracking down on this loophole, so now real holiday let owners are going to suffer.
Could the rest of the UK be next?
Hard times ahead I think!!