Research around what you’re paying for your holiday home is key.
Now is a good time to check if you qualify for Business Rates, rather than paying Council Tax, and possibly save a lot of money in the process. The recently announced 50% rise in council tax is primarily aimed at people who have a second home for their own personal use and do not holiday let that property. As an owner, if your property is available for 140 days and is let for a minimum of 70 days, you would qualify for business rates.
Recently, one of our owners at FBM Holidays received a rebate of £8,000! This was based on a three-bedroom property in Tenby with a bathroom and shower room. The owner completed the necessary forms and asked FBM Holidays to provide backdated rental accounts from 2007 to 2015. The process was straightforward and resulted in a substantial rebate.
For more advice on business rates, or if you require backdated rental accounts, please contact Carol, our Customer Service Manager, on 01834 844565.