I have a furnished holiday letting in Dorset. Please can you tell me what tax reliefs have been lost, and what is the practical effect for higher rate taxpayers? 

Arthur Weller replies:  

From April 2025, the applicable changes include: (a) borrowers can only deduct the 20% tax reduction for the interest they pay their lenders, instead reducing their gross income by the interest paid; (b) re capital allowances, only replacement of domestic items relief is available, and not full capital allowances on furniture, fittings, etc.; (c) for capital gains tax purposes, rollover relief and business asset disposal relief are withdrawn; and (d) for pension contribution purposes, furnished holiday lettings earnings are not relevant UK earnings.