Holiday property investment

Fewer Britons went on holiday abroad in 2012 than the previous year, according to official figures. Perhaps buoyed by the Olympics or squeezed by the recession, this means more people are staying in the UK for their holidays. With this in mind, it’s time to take advantage of the UK’s ‘staycation’ trend. Despite the tight economic times, 10m of us still plan to go on holiday in the UK this summer.

The closing of a tax loophole is hurting the Welsh tourist industry and the people who own holiday homes. Previously it was possible to list a second home as a business to avoid paying council tax, just paying the much lower business rates for the property. This was even the case for people who didn’t run the home as a business at all, who just pretended they did, to save money.