The rate at which holiday let businesses is being set up has more than doubled during the pandemic according to the Hamptons agency, in research for the Financial Times.
In the first six months of 2021 some 1,401 holiday let companies were incorporated, up 83 per cent from the same period of 2019; this is far in excess of the rate of incorporation of buy to let companies, which saw 61 per cent growth.
Hamptons says 93 per cent of those incorporating for holiday lets owned only one mortgaged property, suggesting this surge is down to individuals seeking the tax advantages of business registration for their holiday properties.
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