In this interview, Mark and Zoe discuss the financial planning considerations for buying a furnished holiday let (HL). Zoe is a Chartered Financial planner with lots of experience in helping people navigate their finances when it comes to buying a HL.

She starts by defining what an HL is and the criteria that must be met for it to qualify as a trading HL for tax purposes.

Zoe goes on to discuss the tax benefits of owning an HL, such as capital allowances, mortgage interest relief, and business rates.

They also talk about the potential disadvantages of owning an HL, such as the higher level of management required and the risk of void periods.

Mark and Zoe then discuss the case study of Laura and Tom, a couple who are considering buying an HL. They discuss the couple's financial situation and their goals for the HL. They also discuss the tax implications of the purchase for the couple.

Mark and Zoe conclude the interview by emphasizing the importance of getting professional advice before buying an HL. They recommend working with a chartered financial planner who can help you assess your individual circumstances and make the best decision for you.

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.

However, there are also some potential disadvantages to owning an HL, such as the higher level of management required and the risk of void periods.

As always, remember, it's really important to get professional advice before buying an HL to ensure that it is the right investment for you.