I have just built a new house and i am thinking of doing b&b in 3 rooms.we are getting valuated for council tax banding do i have to state my intensions or can u let so many of your rooms out.
2007-02-16 08:04:47 · 3 answers · asked by louy 2 in Business & Finance ➔ Taxes ➔ United Kingdom
All businesses have to register and remember you will have to pay a crippling business tax on top of other taxes. It may just not be worth the trouble and expense.
2007-02-16 08:13:30 · answer #1 · answered by tucksie 6 · 0⤊ 0⤋
You must advise the council & the tax office as you will be taxed on the profit.
They will do you if you do not declare & you have a fixed asset that they can get their filthy hands on.
2007-02-16 10:28:15 · answer #2 · answered by ANDREW H 4 · 0⤊ 0⤋
You will if it`s going to be a business.
2007-02-16 08:08:40 · answer #3 · answered by The BudMiester 6 · 0⤊ 0⤋