Furnished holiday lettings

In order to be awarded CPD units you must answer the following five random questions correctly. If you fail the test, please re-read the article before attempting the questions again.

  1. Mr Bump is a UK resident, has a property in South Wales on short term lets. During the year ended 5 April 2012, he let out the property on the following basis. The flat is available for letting to holidaymakers from the beginning of March to the end of December and is actually let on one and two week holiday lets for a total of 85 days. The holiday lettings include a holiday taken by some friends from 1 July to 14 August. Will the property qualify as a furnished holiday letting?

  2. From which dates are the changes in the FHL regime effective for individuals?

  3. Mr Jenkins realises a loss on the letting of his furnished holiday let property during the year ended 5 April 2012. What types of loss relief are available to Mr Jenkins in respect of those losses?

  4. Mr Wilson owns a property in Margate which qualifies as a furnished holiday letting. During the year ended 5 April 2011, he makes a loss for income tax purposes of £10,000. Which of the following type of loss relief is NOT available to Mr Wilson?

  5. Chunks Ltd owns a property in France which qualifies as a furnished holiday letting. During the accounting year ended 31 August 2010, the letting makes a loss for corporation tax purposes of £10,000. Which of the following type of loss relief is NOT available to Chunks Ltd?