Furnished Holiday Let

domjandddomjandd MAAT, AAT Licensed Accountant Posts: 8
Couple (not married) have turned their barn into a FHL, but the property is only in one of the partners' name. Both partners are self employed (other trades) but run the FHL together. Is it possible to make the furnished holiday let trade a partnership (partnership tax return even though 1 partner has no legal right to the property) to split profits as required?
Thank you very much for your help!

Comments

  • domjandddomjandd MAAT, AAT Licensed Accountant Posts: 8
    Further to me asking this question I have now found the answer - you are able to split the profits between the two without setting up a partnership. Thought I would post the answer to help others.
    Thanks
    MarieNoelleAAT_Team
  • RebeccascottRebeccascott Registered, Tutor Posts: 39
    Thank you for this
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