Are you thinking of buying a holiday home in the UK?
One of the first things you should do before making your purchase is to take expert financial advice.
The thought of buying a holiday home, promoting it and getting a steady income throughout the holiday season is an attractive thought for many. However, there are many things to decide before you take the plunge.
Have you considered the costs involved, taxes payable, how many weeks the property must be let for to qualify as a Furnished Holiday Let and the financial implications when you come to sell?
Anyone considering buying a holiday home in the UK needs to get expert help from the outset.
And that is where Maynard Johns Chartered Accountants come in.
Buying a Holiday Home Advisory Service
Maynard Johns provides an advisory service for anyone considering buying a holiday home. This is provided via a secure Zoom call so it can be carried out wherever you live.
The service is particularly beneficial for those who do not have an accountant or use one without the experience of Holiday Let properties and want to chat through their specific scenarios with an expert.
Common questions when buying a holiday home are:
- Should I trade as a limited company?
- Whose name should it be in?
- What do I have to do to make it qualify as a Furnished Holiday Let?
- What happens if it doesn’t qualify as a Furnished Holiday Let?
- It’s already in 2 names but my partner is a 40% taxpayer, and I am not. What can we do?
- What expenses can I claim?
- What about VAT and when do I have to register?
- How is it taxed if I sell it?
- Is it taxable to Inheritance Tax when I die?
- What about business rates?
We will work through all these questions with you and any others you may have about buying a holiday home so you can make an informed decision whether to purchase a holiday home or not with peace of mind.
What does the Advisory Service cost?
For a zoom consultancy service of up to an hour, the cost is just £250 plus VAT.
This service is hugely popular and appreciated by those considering a purchase and has prevented many from making expensive mistakes.
To book your holiday home advisory call get in contact with us on 01237 472071