The smart new way to make your second home pay... exchange!

On April 6, changes to the rules governing furnished holiday lettings meant that second home owners lost tax breaks which allowed them to offset the cost of furniture and fittings against income tax  -  potentially costing them thousands of pounds each year.

However, there is a smart new way to make your second home pay without the taxman getting a penny  -  home exchange.

Home exchange involves ‘swapping’ your property with that of another homeowner elsewhere in the world, cutting the cost of your own holiday accommodation almost to zero in the process.

“A home exchange is all about making your property work for you by negotiating holiday swaps with like-minded people in Britain and across the world,” says Dianne Stewart of global home exchange site Homes-Club International (www.homes-club.com).

“With the new tax rules, this becomes a very attractive proposition for second home owners  -  while they can no longer offset fixtures and fittings costs against income tax, they can reduce their total expenditure by using their property to save money on their own travels.”

Joining a home exchange scheme also gives owners a creative option in utilising their rental properties during off-peak periods, when they are traditionally harder to fill but retain an appeal for travellers who want to explore a destination without the crowds.

In addition, Ms Stewart says, rental properties are not always fully occupied even during peak season, and home exchange has a part to play here too.

“The example I always give comes from last summer, during which my property was fully booked except for one week.  Just two weeks beforehand I accepted a late exchange request and now I have a holiday lined up in Barbados in return.”

Home exchange typically works on a membership scheme basis, with annual membership of Homes-Club International currently priced at just £25.  After joining, members are free to browse the site to identify properties in their chosen destination and make direct contact with the owners to negotiate a property swap.  Where second homes are involved members can use each others’ properties at different times and negotiate over length of stay.

To ensure privacy and security, full property details can be viewed only within the password-protected members’ area of the site.  Homes-Club International membership is open to anyone with a connection with independent schools anywhere in the world  -  past and present parents, former pupils, staff and governors.

For futher information, contact info@homes-club.com or visit www.homes-club.com .