Second homes taxes

Second home owners targeted by HMRC The Treasury has launched a series of proposals as part of the Government’s “Tax Day” consultations. Chief among them is a tightening of rules for second home owners who will now only be able to register for business rates if their properties are genuine holiday let businesses. Currently, second home owners are able to declare they intend to make their property available to let but there is no requirement to verify that it is actually being used commercially. Owners may then also claim small business rates relief. New legislation will mean a second home's qualification business rates will depend on the actual number of days the property was rented for. Treasury officials also said some owners may have claimed coronavirus support grants of up to £9,000 each to replace lost income.