New rules are expected to come into effect from the 2014 income year, to change the amount of deductions claimed on a holiday home that is used both privately and for business.  

Along with the normal records required for income and expenses, the following should now also be kept by you in expectation of this change:

• How the home is used for each day of the year.
• Details of who used the home, including:
  
  • the number of days in use
  • the person's relationship to you (eg, son, friend)
  • the rent charged to each person.
• Details of any repairs carried out, including the reason for repairs.