PIM4190 | Repeal of Furnished Holiday Lettings rules - Jointly let property

The furnished holiday lettings rules cease to apply in tax years commencing on or after 6 April 2025 for Income Tax and for Capital Gains Tax, and 1 April 2025 for Corporation Tax and for Corporation Tax on chargeable gains.

However, where the joint owners are husband and wife, or civil partners, profits and losses are treated as arising to them in equal shares unless both of the following apply:

• entitlement to the income and the property are in unequal shares

• spouses, or civil partners have informed HMRC that their share of profits and losses is to match the share each holds in the property

This can be declared by using Form 17, which must be submitted to HMRC within 60 days of your declaration of unequal shares — Declare beneficial interests in joint property and income