🏡’Furnished Holiday Lets are the bed stock of rural and coastal visitor economies. They are a longstanding, economic lifeline for communities that face economic disadvantages.’
🏡‘Forcing FHLs out of the rural and coastal tourism market will lead to job losses, business closures and the loss of investment in local visitor economies.’
🏡‘Abolishing capital allowances and full interest rate relief will stunt growth and reduce investment in rural and coastal areas.’
🏡‘Forcing businesses to sell their holiday let properties will further hollow out rural and coastal communities.’
Chief Executive of the ASSC, Fiona Campbell along with colleagues from PASC UK and PKF Francis Clark attended HM Treasury today (19th August) at 12 pm to meet with UK Government Officials.
- The meeting lasted 90 minutes and went better than expected.
- While HMT expressed discomfort with the levels of harm we outlined, we clarified that these issues extend beyond self-catering alone. Importantly, they assured us there is no anti-self-catering stance from Ministers.
- Budgetary pressures, such as Winter Fuel Allowances, were acknowledged, but we were pleased to find HMT more aware of the legislative challenges ahead than expected.
- The door for further discussion remains open, and we made it clear that we are seeking a pause or greater mitigation for those owners facing significant tax changes.
- The ASSC and PASC UK will continue to work closely with HMT, providing further information as requested, while maintaining our focus on the political front.
- Overall, the outcome was more positive than anticipated.
Fiona Campbell, CEO of the ASSC, said:
“We welcomed the opportunity to meet with HM Treasury today to discuss the potential abolition of the FHL tax regime. This is causing real concern for operators throughout the UK, but particularly in Scotland due to the accumulated regulatory burden. The ASSC and our stakeholder partners from PASC UK and PKF Francis Clark briefed HM Treasury on the salient issues and we commit to maintaining this constructive dialogue to try and ensure a positive outcome for our sector.”
Thank you to those who have responded to the Iparl Petition which now sits at over 9,000. If you have not yet put your name to this, we urge you to support us in this fight and sign now!