Norfolk MP’s call to sign petition to end tax loophole
- Credit: Parliamentlive.TV
A Norfolk MP is spearheading a petition demanding an end to a tax loophole that allows second home owners to pay no council tax.
North Norfolk MP Norman Lamb MP is calling on the Chancellor to end the tax loophole in the Autumn Budget, expected to be announced at the end of October.
In England, any property that is 'available to let' for 140 days or more per year can be registered as a holiday business. Holiday homes with a rateable value of less than £12,000 are eligible to receive 100pc small business rate relief, meaning that the owners do not have to pay any tax on the property.
North Norfolk District Council revealed that 1,302 second-home holiday lets are claiming 100pc small business rate relief in 2018-19 – at a cost of £1,873,998. While many of these properties will be genuine holiday homes, the system is open to abuse, Mr Lamb said.
sign the petition at www.normanlamb.org.uk/second_home_tax