Tax benefits for holiday lets are not afforded to buy to let landlords, making a huge difference in profitability. A holiday let can be treated as a business for tax purposes, whereas a buy-to-let is regarded as an investment giving rise to investment income. Unlike the latter, owners of holiday lets can deduct the entire cost of their mortgage interest regardless of other income. Holiday lets are subject to business rates rather than council tax.
You are eligible for tax benefits if your holiday let is available for at least 210 days a year and let out for a minimum of 105 days each year. Of course, individual circumstances are unique, so professional tax and investment advice should be taken.
Choosing a trusted and reliable management agency is key to the success of any holiday let investment. Partnering with experts like Habitat Escapes, the on-site specialist for Silverlake owners, can make your property investment journey painless by providing a complete management and maintenance service.
So, whether you're looking for a personal investment, a financial gain, or looking to leave an inheritance for your children, Silverlake offers a chance to buy a luxury lakeside holiday home that ticks off everything on your property investment wish list.