We are experienced in dealing with the special tax and financial issues relating to the diverse activities of holiday parks.
We pride ourselves on the relationships we build with our clients. We take the time to get to know you and your business which means we can offer you the best possible service.
If you’re thinking of purchasing a holiday park, we can help you negotiate the best deal and structure the purchase for maximum tax efficiency. We can:
- Review the purchase agreement and ensure there are no hidden liabilities that could cause you problems later.
- Advise on the best form of business entity – sole trader, partnership or limited company.
- Ensure you claim the right level of tax relief on capital expenditure for building work and renovations.
Owning & Operating
The more activities a holiday park engages in, the more essential it is to ensure that financial records contain the correct level of detail. We can:
- Help with complex VAT on the different sources of holiday park revenue.
- Advise on what records to keep and what detail to capture.
- Provide you with meaningful management accounts to give you snapshot of your profit and loss on a monthly or quarterly basis.
Exit Routes & Succession Planning
Whether your intention is to sell or pass on your business to the next generation, we can help you plan ahead avoid costly tax liabilities at a later date. Our services include:
- Inheritance Tax planning. HM Revenue & Customs can argue that a holiday park is an investment and doesn’t qualify for 100% Business Property Relief (BPR). We can advise you on the best course of action.
- Capital Gains Tax. When you come to sell the park, it’s likely a capital gain will arise. We can help you plan so your ultimate tax liability can be minimised.