5th June 2015 by

Posted in Holiday Letting, Owners, Wales

Business rate relief for holiday letting

If your holiday property or second home is available to let for 140 days and is actually let for 70 days per year then the property should be registered for Non-Domestic Rates also known as ‘Business Rates’.

Contact your local council to apply for small business rate relief.

You’ll get 100% relief (doubled from the usual rate of 50%) until 31 March 2016 for properties with a rateable value of £6,000 or less. This means you won’t pay business rates on properties with a rateable value of £6,000 or less.

The rate of relief will gradually decrease from 100% to 0% for properties with a rateable value between £6,001 and £12,000, so it’s worth doing this sooner rather than later.