Holiday accommodation businesses and tax relief
17 February 2024
From Bowness and Windermere, through Ambleside and Grasmere, and on up to Keswick, the Lake District is an ever popular tourist destination, and therefore home to many quality ‘holiday accommodation…
VAT savings for Hotels, B&B’s and Holiday Lets
17 February 2024
A&B are 2 small hotels with almost identical financials. In the last financial year both made sales of £130,000 (ex VAT), and both incurred vatable expenses of £8,000 (ex VAT)…
Holiday Accommodation Businesses & IHT
17 February 2024
Stan is a widower, and dies on 30th December 2020. His wife died 3 years earlier leaving all her estate to him. Stan’s estate is worth £1.6m, and comprises his…
Flat rate adjustment for business premises
17 February 2024
If your business is unincorporated and your business premises are also your home – eg, you run a bed & breakfast, guest house, pub, etc - working out what is…
Holiday lets – accounting for VAT on channel charges
17 February 2024
If you receive a VAT invoice for booking agent commissions from a UK based agent it will itemise the VAT you have been charged and, provided you are VAT registered,…
MTD – is your software up to the job?
17 February 2024
As you may be aware VAT registered business have had to register for Making Tax Digital (MTD) since 1.4.2019. However, as from April 2026, MTD will also apply more generally…
Sole trade, partnership, or company?
16 February 2024
Whether you’re just starting out in business, or have been at it for a while, there are three main types of ‘trading vehicle’ to consider if you want to make…
