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đź‘‹ Welcome to 2025!
Well, that was 2024 and here is 2025! From chatting to may people it feels like the general consensus for 2025 is the hope that it’s just better than 2024! What are your aims for the year?
As we hit our 60th edition of the newsletter, we will continue to provide you with useful tips, marketing insights and news about the STR industry to help you in your STR journey.
In this weeks newsletter I reintroduce our resources directory in case you need a new service provider as we enter a new year.
Phil
Founder, My Holiday Guide
IN THE NEWS
A council member in West Lothian, Scotland, is calling for a debate on how the region should handle the increase in short-term lets. Councillor Willie Boyle argues that while short-term lets can be beneficial for tourism and temporary accommodations, they are "untenable" in the long term due to the ongoing housing crisis. The council needs to consider the economic benefits and social costs of these properties, especially when there is a shortage of homes in the market.
West Lothian has seen a relatively small number of applications for short-term let use compared to areas like Edinburgh and East Lothian. However, a planning officer believes more applications will emerge in the future. Currently, new planning rules require councils to evaluate the impact of short-term lets on neighbours and only support the change of use from permanent homes to short-term lets if there are significant economic advantages. Councillor Boyle suggests that a full council debate on the matter is necessary to develop a clear policy on short-term lets.
This article analyses the economic effects of short-term lets (STLs) in Scotland, specifically in Angus. The analysis was done by BiGGAR Economics, a Scottish consultancy.
In 2023, STLs in Scotland generated an estimated ÂŁ864 million in gross value added (GVA) and supported 29,324 jobs. In Angus, STLs generated ÂŁ14.5 million GVA and provided 493 jobs. The GVA for an average two-bedroom STL in Angus was ÂŁ48,366, compared to ÂŁ10,093 for an average owner-occupied/private rented household.
STLs only account for 0.8% of Scotland’s total housing stock. In Angus, secondary lets represent 0.4% of total dwellings, while empty homes account for 4.2%.
The article also mentions that guests staying in secondary lets spend more than the average visitor to Angus, which benefits tourism and hospitality businesses.
The CEO of the Association of Scotland’s Self-Caterers, Fiona Campbell, argues that this data challenges the narrative that STLs are fuelling Scotland’s housing crisis, as they represent a small proportion of the country's housing stock. Graeme Blackett, Director of BiGGAR Economics, states that reducing the supply of secondary lets would negatively impact the tourism economy without solving Scotland’s housing challenges.
Here is a different article providing some detail on the proposed visitor tax in Wales. Although this is not an immediate change (see rough timeline below), there are actions PASC and others are taking now to engage with the proposals.
Rough timeline:
Summer 2025: The Senedd (Welsh Parliament) will vote on the proposed legislation for a visitor tax.
2026 (estimated): If the legislation passes, individual councils will hold consultations with local communities to determine whether to implement the new tax.
2027 (estimated): The visitor tax could come into effect, with tourists beginning to be charged.
It is worth noting that the timeline for the implementation of the tax is contingent on the Senedd's approval of the legislation and subsequent decisions made by local councils.
Abolition of FHL Tax Regime
By now we are all more than familiar with the planned tax changes, but to keep us all refreshed with the changes and to also provide a slightly different take here is an article by Golding Accountancy. The post details key clarifications from HMRC, including the distinction between FHL abolition and business cessation, and the implications for jointly owned properties. However, significant uncertainties remain, such as the treatment of existing assets and the impact on various letting models.
IN THE DIRECTORY
The Most Comprehensive UK STR Resources Directory
 | Did you know that the directory has over 500 listings of providers and services such as accountants, housekeepers, insurance providers, interior designers, mentors and many more categories. It’s been a while since we highlighted our directory so I thought the new year would be a good time to re-introduce it as you consider any changes or improvements as we start 2025. |
PROPERTIES OF THE NEWSLETTER
We all love looking at and getting inspiration from other properties so here’s our top pick for this edition.
NO FOMO
Missed last weeks newsletter? Here’s one thing you might like.
2024 Most Popular Resources
Last weeks newsletter roundup of the most popular resources from 2024 seemed to go down well with you so if you missed reading it you can just click on the link below.
The social media post ideas seemed especially popular. Did you find this useful?