B & B accounts

Options
jilt
jilt Registered Posts: 2,903 Beyond epic contributor 🧙‍♂️
in General accounting discussion
Think I'm having a blonde moment this afternoon! A B & B is not the same as a furnished holiday let right? A FHL would be a self catering holiday cottage?

Am trying to get my head around capital allowances for a B & B and can't find anything specific to them.

Comments

  • groundy
    groundy Registered Posts: 495 Dedicated contributor 🦉
    Options
    A B&B is the same as any sole trader or at least thats how I've always treated them. Its no different to a hotel
  • Monsoon
    Monsoon Registered Posts: 4,071 Beyond epic contributor 🧙‍♂️
    Options
    groundy wrote: »
    A B&B is the same as any sole trader or at least thats how I've always treated them. Its no different to a hotel

    Yep. B&B is not a FHL.

    Just treat like any other trade - it's a trade, not land and property income - that is the distinction, I believe.

    Though you have me questioning now when renting a room for 2 nights (a la low level b&B) at a weekend moves from land and property to a trade.

    My head hurts this morning!

Categories

Privacy Policy