Are you letting the Assessors know what it really takes to run a self-catering business?
When you fill in Rates Revaluation Form ‘Section F’ consider putting some or all of the following, amending where appropriate:
Not included as paid expenses in our annual accounts is all the work carried out to operate the business which is fulfilled by the owners/partners. This includes:
- Cleaning and other duties for each and every changeover between lets – X people x X hours per changeover (approx XXX person-hours per year).
- Travel time – X hours per changeover (approx XX person-hours per year)
- Labour hours carrying out maintenance, redecorating, refurbishment and repairs. At least XXX hours per year, and often many more.
- Administration, book-keeping, marketing, bookings management, social media, website development etc. i.e. All the ‘background work’ for a successful business – at least XXX hours per year, and often many more.
- Industry engagement, continuous professional development, training, conferences etc – at least XX hours per year.