Running a Bed & Breakfast business from your farmhouse can introduce some diversified income into the family and make use of some unused bedrooms.
Such an enterprise can also be tax-efficient. A farmhouse Bed & Breakfast business qualifies for the rent-a-room allowance, which has increased to £7,500 per annum from 6 April 2016.
The 2016 Larking Gowen Annual Tourism Business Survey has recently been launched and reports sustained growth in the region’s Tourism and Leisure sector – with businesses across Norfolk, Suffolk and Essex continuing to see an upward trend of customer spending. However, whilst the survey findings remain positive, the results also show a clear request for more governmental funding to be directed to these counties and more local authority support.
As a landlord, can you get tax relief for replacing furniture in your buy-to-let property?
You would think it would be an easy question to answer but recent changes in HM Revenue & Customs’ (HMRC) approach has made the situation a little bit complicated.
There are essentially three main ways in which private landlords rent out their residential properties in the UK:
Fully-furnished long-term lets
Unfurnished long-term lets
Furnished holiday lettings
This blog deals with properties within 1 and 2, as furnished holiday lettings are not caught by the changes I am about to explain.
Today sees thousands of pubs across the UK reduce their prices by 7.5% as part of a well orchestrated campaign led by the French VAT campaigner Jacques Borel, who has been paid by JD Wetherspoon and other major pub chains to further the campaign. This is a separate campaign to the Cut Tourism Tax campaign.
Living in Suffolk, it is easy to take for granted the fantastic tourist attractions on our doorstep. In Bury St Edmunds there is the superb cathedral, the National Trust property Ickworth House is not far away, as is the world famous Sutton Hoo. Of course, there is a fabulous coastline including Aldeburgh and Southwold, as well as beautiful scenery inland.