CA20025 - PMAs: Introduction: Furnished holiday lettings business

CAA01/S17

A ’furnished holiday lettings business’ is a qualifying activity for PMA. A furnished holiday lettings business is one that consists of the commercial letting of furnished holiday accommodation in the United Kingdom. It may be part of a larger UK property business or a Schedule A business. The term the ‘commercial letting of furnished holiday accommodation’ has the same meaning as in ITTOIA/S322 to S328 for income tax and ICTA88/S504 for corporation tax.

Where only part of a Schedule A business consists of furnished holiday lettings, the furnished holiday lettings are a separate qualifying activity. PMAs are calculated and given separately on the furnished holiday lettings business and the rest of the UK property business or Schedule A business.