The Association of Scotland’s Self-Caterers is pleased to introduce a new monthly partner top tip, where trusted ASSC partners will share practical advice and insights designed to support self-catering businesses across Scotland.
Each month, one of our partners will offer a short, expert insight on issues affecting property ownership, business operations, finance and long-term investment in the sector.
We are delighted to launch the series with our partner Cumberland Building Society, specialists in hospitality and tourism lending.
The Cumberland Building Society has extensive experience supporting businesses across the tourism sector and understands the unique challenges and opportunities facing hospitality operators, including self-catering businesses.
Their team specialises in hospitality mortgages, offering a personal and flexible approach for those buying, refinancing or investing in tourism accommodation across the UK, including Scotland and many island communities.
For this month’s top tip, The Cumberland team highlights an important consideration for anyone looking to purchase or invest in a self-catering property.
“The property isn’t the only structure you should be considering for your investment.
Before you start the exciting journey of securing your new investment property, it is important to consider how best to structure your purchase to help you achieve your goals.
Is it better for you to buy in personal names, or do you set up a limited company to purchase the property? Each option has its own advantages and disadvantages however, following the abolition of the Furnished Holiday Let tax scheme in April 2025, structuring your investment in the right way is more important than ever. There is no ‘one size fits all’ approach to this, your individual circumstances will determine the most effective approach for you.
This can seem complicated, so it’s always best to seek advice from professionals, such as an accountant, tax specialist, a solicitor (where appropriate), and a lender who understands the market. This can help you to get your investment started in the right way and build a strong foundation for potential future growth.”
If you would like to explore financing options for a hospitality property or discuss your circumstances, the team at The Cumberland Building Society can provide guidance tailored to your business.
We look forward to sharing more partner insights and practical advice with members in the months ahead.