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Inheritance Tax Relief on Furnished Holiday Lets Receives Another Blow

Created: September 5, 2017
Posted in: Guidance, Guidance Sheets, Member Benefits, Self-catering Industry

A recent tax case before the First Tier Tribunal has poured further doubt on the availability of inheritance tax relief on properties let as furnished holiday accommodation (FHLs). Business Property Relief (BPR) can provide 100% relief against inheritance tax where a business activity is deemed to be “wholly or mainly trading”. If a business activity […]

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Rates Revaluation 2017: Applying for Rate Cap Relief

Created: March 22, 2017
Posted in: Guidance, Industry News, Legislation, Representation, Self-catering Industry

The Non-Domestic Rates (Transitional Relief) (Scotland) Regulations 2017 This is the Statutory Instrument, which was approved on 16 March and comes into effect on 1 April.  Rate-payers will have to apply for the 12.5% rate cap. The scheme is a Transitional Relief Scheme so there will be a calculation done to determine if the Ratepayer […]

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Rates Revaluation 2017: Parking Spaces & Additional Elements

Created: March 22, 2017
Posted in: Guidance, Industry News, Representation, Self-catering Industry, Uncategorized

Where a property comprises a series of different elements (e.g. self-catering unit with separate parking, offices where the only access to each one is across a common corridor etc), the Assessor will have considered whether or not each element comprises a single subject.  Single subjects are considered mainly from a geographical perspective to determine what […]

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2017 Rates Revaluation and How to Appeal

Created: February 8, 2017
Posted in: Guidance, Industry News, Representation, Uncategorized

The rateable value (RV) of a non-domestic property: Approximates to the rent payable on standard full repairing and insuring terms, in other words the notional rent that a third party would pay an owner to run the self-catering business. Is fixed according to the level of values that prevailed on 1 April 2015. Reflects the […]

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New and Updated Guidance Sheets

Created: April 23, 2016
Posted in: Business, Guidance, Member Benefits, Regulations

Our library of Guidance Sheets is currently being updated and a new sheet on Regulations has been added.  The Regulations Guidance Sheet is intended to raise awareness on important safety checks, and to point members towards the relevant information.  It is a summary of regulations and safety checks that holiday home owners should be aware of, including […]

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