In UK, we have number of holiday parks and Furnished Holiday Lettings that use our expertise to help with their accounting and tax compliance. We pride ourselves on delivering a first class service every time. The parks we work with are based all over the UK and are some of the most popular in the country.
At The Accountancy Solutions, we have the experience and expertise to give you custom base solution to your holiday parks auditing, accounting and taxation needs. Whether you need help with the accounting or tax issues on your business profits, assistance and advice on retirement planning, inheritance tax or any other accounts related tasks, we have the experience and best team of accountants to help you.
The taxation rules for holiday parks and caravan sites can be extremely complex and without the qualified advice we can offer, there is a good chance that your tax compliance is not done in the right way and you may loose on tax reliefs available.
Running a holiday park efficiently requires a lot of work, so you really do not want to have to spend time dealing with the legal requirements and all other intricacies involved with the filing of your annual tax returns. Our team can handle this time-consuming task for you as well as overseeing your financial accounts too. We can advice you on tax reliefs available on rental income from properties that qualify as Furnished Holiday Lettings.
If you let properties that qualify as Furnished Holiday Lettings: You can claim Capital Gains Tax reliefs for traders (Business Asset Rollover Relief, Entrepreneurs’ Relief, relief for gifts of business assets and relief for loans to traders). You are entitled to plant and machinery capital allowances for items such as furniture, equipment and fixtures. The profits count as earnings for pension purposes.
To benefit from these rules, you need to work out the profit or loss from your Furnished Holiday Lettings separately from any other rental business. If you’re in the process of purchasing a holiday park business, you will need a specialist accountant to perform due diligence on the financial records of the targeted business. At The Accountancy Solutions, our experienced accountants will delve into the financial records and accounts with a fine tooth comb in order to verify that the business is everything that it’s claimed to be. Additionally, our accountants can offer the guidance and advice on the rent calculations of the holiday park business.