Tips to lower costs for holiday homeowners amid cost-of-living crisis
We’re currently in a cost-of-living crisis. Living costs are rising at their fastest rate in 30 years; a typical domestic energy bill will rise by about £700 a year in April; National Insurance tax expected to jump to 1.25 percent, and inflation to climb above seven percent this year.
And while that wasn’t enough to contend with, from April 2023 holiday homeowners are to be hit with strict new rules that require them to prove their property was rented for a minimum of 70 days during 2022 to qualify for cheaper business rates - and avoid paying council tax.
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Source: Property Investor Today