VAT & Furnished Holiday Lets

VAT & Furnished Holiday Lets

Postby fizgig on Mon Oct 03, 2011 4:51 pm

Do I need to pay VAT on the combined earnings of 2+ holiday let properties if it falls over the VAT threshold?

If I own 2+ holiday let properties in the UK and their combined earnings are more than the VAT threshold (currently £73,000) do I need to pay VAT?

The properties are not located in the same block, are separated, do not depend on each other and are not connected in any way so will they be classed as separate 'businesses' for the VAT calculation?

I know that if one tips the £73,000 mark on its own then I would pay VAT on that one but I'm not sure if I need to add all the incomes from all the properties together.

Question 2 does it make a difference if i co-own the properties with someone else?

Thanks

:o)
fizgig
 
Posts: 1
Joined: Mon Oct 03, 2011 4:49 pm

Re: VAT & Furnished Holiday Lets

Postby section 44 on Mon Oct 03, 2011 5:29 pm

fizgig wrote:Do I need to pay VAT on the combined earnings of 2+ holiday let properties if it falls over the VAT threshold?


Yes.

fizgig wrote:so will they be classed as separate 'businesses' for the VAT calculation?


No.

fizgig wrote:Question 2 does it make a difference if i co-own the properties with someone else?


No.
section 44
 
Posts: 2062
Joined: Thu Oct 30, 2008 12:47 pm


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