In this episode of the podcast, we're talking about financial planning tips on buying a furnished holiday let. Our guest is Zoe, a chartered financial planner.

Zoe starts by defining what we mean by a furnished holiday let. She explains that it's a property in the UK that is furnished, rented out with the intention of making a profit, and meets the occupancy conditions. These conditions include being available to let for 210 days per year and being let out for at least 105 days per year.

Zoe then talks about the tax benefits of owning a furnished holiday let. She explains that you can claim capital allowances, mortgage interest relief, and business rates relief. You can also apportion the profits of the business to the most tax-efficient person, which can be beneficial if one person in the partnership is a higher rate taxpayer.

Zoe also discusses the risks of owning a furnished holiday let. She mentions that it can be more difficult to manage than a traditional buy-to-let property, and there is always the risk of void periods.

Finally, Zoe talks about the financial planning considerations that you need to take into account before buying a furnished holiday let. She recommends working with a financial advisor to make sure that you're making the right decision for your individual circumstances.

Here are some key takeaways from the interview:

• Furnished holiday lets can offer a number of tax benefits, such as capital allowances, mortgage interest relief, and business rates relief.
• However, there are also some risks associated with owning a furnished holiday let, such as the higher level of management required and the risk of void periods.
• It's important to work with a financial advisor before buying a furnished holiday let to make sure that it's the right investment for you.

If you're thinking about buying a furnished holiday let, I encourage you to listen to this episode of the podcast. Zoe provides a wealth of valuable information that can help you make an informed decision.