UK Landlord Forum / Life

Long story short, I've got 2 properties and I'm out. Unfortunately I've been unwell for a while and the future doesn't look fantastic.

I'm in contact with a solicitor who will undertake the full section 21 process on both properties (fingers crossed before the bill becomes an act and bites me on the arse). One will become my main residence, the other will be sold. I believe there is a lower rate of capital gains on a property listed on AirBnB as opposed to one that was recently vacated by a long term tenant, then put on the market.

I know I'll have to furnish, but does anyone have more information/advice on this? Minimum timeframes etc?

Thanks

You can get a relief against CGT (a rate of 10%) for business assets. Running an AirBnB you don't live in as a dedicated business might make you eligible for that relief.
But if it's really been a residential let, I wouldn't try it.

If you want to consider running it as an AirBnB for a few years, you might want to talk to a tax expert about the "conversion", because there are other issues - the income allowances are different, the amount of availability in a year is an issue, it might be a planning issue, you might have to pay business rates etc.