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2010 Budget | Furnished Holiday Letting (FHL)

2010 Budget | Furnished Holiday Letting (FHL). As announced last year, the tax advantages of Furnished Holiday Letting businesses will be withdrawn with effect from 6th April 2010. Income from FHL will be treated in the same way as income from other property rents. This means there will be less advantageous offset of losses and a number of Capital Gains Tax (CGT) reliefs will no longer be available. However according to our accountants, it appears that Entrepreneurs’ Relief will apply to disposals of a FHL property within 3 years of 5th April 2010, potentially reducing the effective rate of CGT on up to £2m of gains from 18% to 10%.

Furnished Holiday Lets | Your Emergency Tax Planning Guide
Boshers Holiday Home Insurance clients and friends can follow the link to purchase a copy of this invaluable guide and receive a 30% discount off of the RRP of £24.95 + £1.95 postage and packing. Simply use the discount code BOSHERS which is case sensitive. Please note that Boshers Ltd have no connection with the Tax Cafe and will not receive any remuneration from the sale of their publications, instead this is passed on as a saving to you. This book will be of interest to Holiday Home Owners and may just throw up some interesting points to discuss with your professional advisers.

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Furnished Holiday Lets | Food Hampers | Food Hygiene Legislation

As an insurance broker, specialising in holiday home insurance for furnished holiday lets across the UK; we are increasingly being asked questions by owners and their agents regarding legislation surrounding the operation of a holiday cottage. Insurance is our speciality and we are not lawyers, so we will often seek our own guidance from the relevant authority. This post relates to Furnished Holiday Lets | Food Hampers | Food Hygiene Legislation.

A recent query was regarding owners who as a gesture of goodwill provide a welcome hamper of food for their self-catering guests which may include for example a home baked cake, pot of home made jam etc. In particular would such activities fall within the Food Hygiene Legislation.

Another scenario which we are asked about is where the property owner lives adjacent to the holiday cottage and offers a service whereby they will cook breakfast for their guests in the holiday cottage, or even offer to cook evening meals by request in return for payment.

Your local authority is responsible for monitoring food hygiene and I approached ours for guidance on the above two scenarios.

This was their response:

“I would advise that a holiday cottage owner who provide a welcome hamper would be required to register as a food premises to comply with Regulation (EC)852/2004 Article 6 Paras 1 and 2. However such a premises would not fall within our inspection programme. Similarly registration would also be required for the second scenario and in these circumstances the business would receive an inspection the frequency of which would be related to risk. The food businesses operator must ensure that the competent authority has up-to-date information on establishments including notifying any change in activities and closure. The Registration relates to production, processing and distribution of food.”

If either of the above scenarios reflect services that you offer to your guests and you havn’t already registered with your local authority, I recommend that you do so. The procedure seems very straightforward and given the minimal risk you can expect your authority to treat you with a very light touch.

A quality Holiday Home Insurance policy such as that provided by Boshers Ltd and underwritten by Ecclesiastical Insurance Office PLC includes liability resulting from injury or damage caused as a result of the property owners actions or products provided by them. As always due care should be taken by the policy holder including abiding by relevant legislation.

More information regarding keeping food safe is available from the Food Standards Agency

You may find the following holiday home insurance articles of interest:

For further information on UK holiday home insurance call our team on 01237 429444 or visit the website page most relevant to you:

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UK Second Home Owners Warned Of New Arctic Weather Set For February

UK Second Home Owners Warned Of New Arctic Weather Set For February 2010. Winter is far from over yet, if todays news headlines are to be believed. Having already experienced one of the coldest winters for decades, arctic weather is set to return next week.

Quality Holiday Home Insurance will give holiday home owners peace of mind, although prevention is better than cure. The last thing that any second home owners wants to discover in their holiday home is collapsed ceilings due to burst pipes. Even the most well managed water damage claim can still be traumatic for owners. 

Read our recent posts regarding burst pipes and advice on preventing Holiday Home Insurance claims here 

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Guide To Holiday Home Insurance

Guide To Holiday Home Insurance. Letting your holiday home commercially has many benefits, however as with running any business it isn’t without risk. It is therefore important to get the right holiday home insurance cover. Many holiday home owners may unwittingly be relying on normal home insurance cover or even more disconcerting have no cover at all.

Insurance brokers like Boshers understand the demands and needs of owners of commercially let UK holiday homes and have negotiated a specialist holiday home insurance policy with a leading insurer. Read our Guide To Holiday Home Insurance

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Holiday Cottages Group Launches TV Campaign

From the news – source Travolution

Holiday Cottages Group (HCG), the UK’s number one holiday cottage rental agency with more than 10,000 properties in the UK, is launching its first TV campaign in three years. The advert will premiere on Boxing Day and run throughout quarter one.

Holiday Cottages Group has reported sales of domestic holidays are up by 12 percent on 2008 and following this success it is looking to strengthen its position further in 2010.

The campaign promotes the cottages4you brand and aims to highlight the benefits of a self catering holiday by focusing on the experiences guests take home with them. Customer research carried out by HCG showed that the main features of a cottage holiday were relaxation, freedom and enjoying being ‘back with nature’. The scenarios depicted in the 40 second advert reflect these feelings and capture the essence of a cottage holiday.

The creative approach will be carried across all marketing channels including direct mail, email and website design. London Underground card panels, newspaper display and online display will also feature within the campaign.

You can see the first cottages4you advert from Saturday 26th December.

Read more here

Mark Lavington, Director of Boshers Ltd | Specialist Holiday Home Insurance advisers, comments; “HCG’s high profile marketing campaign highlighting the benefits of UK holiday cottage vacations is likely to have a knock on effect, thus hopefully increasing web traffic and enquiries for smaller bespoke  holiday letting agents who maximise their Search Engine Optimisation (SEO) and Pay Per Click (PPC) campaigns during Q1 of 2010.”

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Furnished Holiday Lets – Emergency Tax Guide – by Carl Bayley BSc ACA

Here is another Tax Guide written by renowned property tax expert Carl Bayley and published by respected Taxation advisors, Tax-Cafe.co.uk. 

Holiday Home Insurance Specialists, Boshers Ltd have negotiated a 30% discount off the purchase price of £24.95 + £1.95 P&P for our clients and friends. For discount code details and information on how to purchase a copy click this link: Furnished Holiday Lets – Emergency Tax Guide – 30% Discount 
Tom Entwistle of www.landlordzone.co.uk recently published the following review: “Given Carl’s extensive knowledge of UK property taxation rules, this guide is about as good as it gets in regard Furnished Holiday Lettings taxation, coming up to the major changes in the law after 6 April 2010.

Despite the many uncertainties as to the exact situation after 6th April, as we are still waiting on detailed guidelines from HMRC, Carl gives some very relevant insights into the future and some valuable pointers as to what you can do in the short-term, if you are in the Holiday Lettings business.

Carl starts by comprehensively recapping the rules as they stand today; examining each of the main tax reliefs available until 5th April next, in turn.

One by one he considers what action landlords can take in the short-term to maximise the reliefs they can claim before the abolition of the current regime.

Having considered the short term, Carl goes on to consider the potential future landscape after 6th April next. Using lots of practical examples the guide is easy to follow for the layman and professional alike.

Interestingly, chapter 8 considers a possible “work-a-round” in the form of a Trading Status alternative to Holiday Lettings Businesses, similar to that of guest houses and hotels.

Chapter 9 considers the issues around adopting property as holiday lets in the time left, and Chapter 10 looks at the temporary extension of the Furnished Holiday Lettings regime to the European Economic Area (EEA).

This tax guide is a must for any landlord with Holiday lets.”

Buy your copy of Furnished Holiday Lets – Emergency Tax Guide – by Carl Bayley BSc ACA at a 30% Discount here. 


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Making Representation On Your Behalf On Key Current Issues

The Federation of National Self Catering Associations was founded to provide a forum for bodies representing the interests of owners or operators of self-catering holiday accomodation, thus facilititating the the exchange of information and debate on matters of common interest. They have a number of other very worthy aims and objectives which include making representations to offical bodies as the interests of it’s members may require. Current key topics on their agenda include:

The Abolition Of The Furnished Holiday Letting Tax Rules

2010 Non-Domestic (Business Rate) Revaluation

Hat’s off to them for representing the interests of this significant sector of the tourism industry, which as specialist providers of UK holiday home insurance we are proud to be a part of.   

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BBQ Safety for holiday home owners

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BBQ Safety for holiday home owners. Barbecue summer or not, if you provide a BBQ for your guests to use at your holiday home you would be wise to give this consideration in your risk assessment and provide some safety guidelines for your guests.

You may wish to consider some of the following tips:

Many people are injured each year because they did not take a few simple safety measures. The following guidance will make sure that your barbecue is a SAFE success:

  • Ensure that the barbecue itself is stable and located on level ground
  • If there is a wind blowing, make sure that the wind is blowing away from you when you light the barbecue (just in case it flares up).
  • Ensure that you are not wearing any loose clothing that could flap onto the lighted barbecue and ignite.
  • Keep the barbecue well away from overhanging obstructions such as tree branches, and keep a safe distance from fences, etc.
  • Under no circumstances use any flammable accelerant (such as methylated spirits, paraffin or petrol) that has not been recommended by the manufacturers.
  • Should you choose to use lighting fluid, the manufacturer’s instructions must be adhered to.
  • DO NOT SPRAY THE LIQUID ONTO A LIGHTED BARBECUE.
  • When lighting the barbecue, do so at arms length (rather like Fireworks) and do not put your face over the range.
  • Keep children away from the barbecue when lighted and after cooking has finished, as it may still be hot.
  • Dispose of the charcoal safely after the barbecue has cooled completely.
  • Keep a bucket of water, sand or garden hose nearby in case of accidents.
  • Once lit, never leave a BBQ unattended.

Gas Barbecues

  • Always check the condition of all pipes and connections before lighting.
  • Make sure that the barbeque controls and cylinder are turned off fully before changing the cylinder.
  • If possible always change cylinder in the open.
  • Do not keep more spare cylinders than you require.

When you have finished with a bottled gas barbeque, turn off the gas cylinder before the barbeque controls, this ensures that any residual gas in the pipeline is used up.

  • If a gas leak is suspected check connections and pipes for leaks by brushing with soapy water and looking for bubbles. Tighten but do not over tighten joints. If unsure do not use and seek specialist advice.

Beware – many BBQ accidents and injuries have occurred as a result of drinking alcohol. Don’t cook and drink.

FOOD SAFETY HYGENE TIPS

  • Buy food from reputable suppliers and ensure it is fresh
  • Wash salads and raw vegetables well to remove surface contamination. Do not prepare these foods too far in advance.
  • Cleanliness is important – make sure you wash your hands thoroughly and keep them clean at all times
  • Thoroughly clean out the barbecue removing any food memories of last summer
  • Defrost meat and poultry before cooking them
  • Keep raw and cooked foods apart and use separate utensils for each to prevent the transfer of germs
  • Don’t add sauce or marinade to cooked food if it has already been used with raw meat
  • Never put cooked food on a plate or surface that has been used for raw meat.
  • Cook food one batch at a time
  • Keep all meats and perishable foods refrigerated until you are ready to use them . If food can’t be kept in a fridge then place them in a cool bag or box with ice packs.
  • Barbecue meat thoroughly until the juices run clear and no pink bits remain
  • Check food is piping hot before serving
  • Keep serving bowls covered to protect them from dust, insects and pets.
  • Eat food as soon as it is ready and throw away any leftovers.
  • Remember: Meat that is burnt on the outside does not mean that it is cooked on the inside. If possible pre-cook chicken and sausages then transfer straight to the barbecue for that barbecue taste. When you reheat food on the barbecue, always make sure it’s piping hot all the way through before serving.

For other informative articles check out these blog posts of interest to holiday home owners. They contain information and guidance to challenges faced by you whilst managing your holiday home, holiday cottage complex or holiday apartments.

For further information on UK holiday home insurance visit the website page most relevant to you:

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Part 6 – Guide to Holiday Home Insurance – Legal Expenses

Legal Expenses Insurance

This provides cover for legal fees, compensation awards or appeal costs arising from a wide range of legal disputes that you may become involved in as a Holiday Home Owner whilst running your holiday let business. Cover for all claims occurring at the same time or from the same originating cause is limited, in the case of Boshers Holiday Home Insurance Legal Expenses to £100,000.

Legal Expenses Insurance may protect your commercial holiday let business legal position in the areas shown below:

Employment disputes
Such as negotiating for an insured person’s legal rights in an Employment Tribunal for a dispute arising from their employment contract.

Contract disputes
Such as negotiating your legal rights in a dispute arising from an agreement for the sale, hire or purchase of goods and services or in connection with the buying or selling of your holiday let.

Bodily injury
Such as pursuing your legal rights following accidental death or physical injury.
Property protection
Such as pursuing your legal rights following damage to your holiday let for problems such as nuisance and trespass.

Legal defence
Defence of criminal prosecutions arising from your employment and the defence of civil actions in specified circumstances.

Holiday let Such as negotiating for your legal rights:
after an event which causes physical damage to your property; and to evict anyone in your property who does not have your permission to be there.
Defending your legal rights if an event arising from you letting your property leads to you being prosecuted in a criminal court.

Study the wording of the Legal Insurance Section closely as all policies have differing levels of cover.

Check out the following posts which expand on Boshers Guide to Holiday Home Insurance – Introduction or visit our Holiday Home Insurance page.

1. Guide to Holiday Home Insurance – Property Owners Liability Insurance

2. Guide to Holiday Home Insurance – Employers Liability Insurance

3. Guide to Holiday Home Insurance – Buildings Insurance

4. Guide to Holiday Home Insurance – Contents Insurance

5. Guide to Holiday Home Insurance – Loss Of Rental Income

7. Guide to Holiday Home Insurance –  General Considerations

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Part 5 – Guide to Holiday Home Insurance – Loss Of Rental Income

Loss Of Rental Income

In Part 5 – guide to Holiday Home insurance – Loss of rental Income we look at how you protect your holiday letting income in the event of an insured peril affecting your property. Your specialist Holiday Home Insurance policy should also provide loss of rental income cover for insured perils, which consequently render the holiday home uninhabitable. It may take up to two years to rebuild a property levelled by fire; you should therefore check that you are covered for sufficient loss of rental income for this period. After all, if you have a mortgage to pay or if you are relying on the income from your holiday home business to live on, loss of rental income cover will be invaluable to you and your holiday cottage letting business..

Check out the following posts which expand on Boshers Guide to Holiday Home Insurance or visit our Holiday Home Insurance page.

1. Guide to Holiday Home Insurance – Property Owners Liability Insurance

2. Guide to Holiday Home Insurance – Employers Liability Insurance

3. Guide to Holiday Home Insurance – Buildings Insurance

4. Guide to Holiday Home Insurance – Contents Insurance

6. Guide to Holiday Home Insurance – Legal Expenses

7. Guide to Holiday Home Insurance –  General Considerations

 

 

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