Popularity has soared with 2,500 limited companies established to hold holiday lets last year, compared with 1,323 in 2019, according to estate agency Hamptons. But, the Government is seeking to restrict holiday lets amid concerns local residents are struggling to afford a home in popular tourist hotspots. They are taxed as a business, unlike buy-to-let property, which is treated by Revenue & Customs as an investment. Holiday let owners turned over £24,000 last year on average, according to holiday rental agency Sykes Cottages. But after she had a few bad experiences with tenants and spent thousands restoring properties that had been damaged, she switched to holiday lets.

Source: Daily Mail April 30, 2023 10:00 UTC