loss of Tax exemptions will hit income
The Furnished Holidays Lettings tax privileges aimed to encourage landlords to provide holiday homes, and have been in force since the 1980s.
If the tax breaks are repealed, self-catering businesses will lose capital allowances, which reduces the cost of setting up a business by 40 per cent as it allows you to deduct costs from your profits on annual tax bills.
They will also lose capital expenditure relief, which allows self-catering businesses to save money by deducting the cost of fixtures and fittings from taxable incomes.