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Tax Implications On Accommodation Units|DNS Accountants

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Description

Learn about accommodation you pay tax on and accommodation you don’t pay tax on When it comes to taxation, HM Revenue & Customs (HMRC) treats holiday accommodation and standard rental properties differently.Having your property treated as a trade business, rather than a rental property, carries a number of advantages.
Always stay safe! It is safer when you trade locally, you see the goods before paying. Avoid using payment / transfer methods such as Western Union, this is the same as sending cash to someone. If you do not trade locally use a service such as PayPal, this can offer you some protection, see PayPal.co.uk for terms. If it is a business that you are purchasing from, paying with a credit card can offer you some protection too.
Vidit Agarwal DNS Accountants is an award winning UK based accountancy firm that provides full range of accountancy services, payroll accounting, bookkeeping, self-assessment tax return, year-end accounting service to contractors/freelancer/sole trader and private limited companies across the UK. Posting for 3+ years

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