Caravan Tax Refund
Have you bought or are you thinking of buying a Static Caravan or Lodge Holiday Home?
Are you a taxpayer?
Is your Holiday Home let at a commercial rent for a minimum of 105 days a year?
Is your Holiday Home available for letting to the public for 210 days a year?
If you answered yes to the questions above, would you like a tax refund?
Well, like you we were slightly sceptical when we first came upon caravantaxrefund.co.uk so decided to investigate further. The nationwide service is provided by Stewart & Co. LLP, a partnership firm of Chartered Certified Accountants based in Bournemouth, Dorset. For more than 25 years the firm has helped many holiday home owners claim tax refunds for their holiday homes, ranging from a few hundred to several thousands of pounds. We caught up with Senior Partner, Mike King who heads their ‘Specialist Caravan Team’ to find out more…
How can a Holiday Home buyer claim a tax refund?
As long as you have let your caravan or lodge and made it available for letting for the required number of days then Stewart & Co LLP can assist in claiming a repayment of tax based on a tax allowance for your original purchase price.
Is the refund only for ‘new’ holiday homes or can they be pre-owned?
Yes, it can be either new or pre-owned – importantly the home is technically moveable and is kept on a Holiday Park rather than ‘residential’ site.
If a buyer purchased a caravan in April 2017 and has been hiring for over the 105 days a year, can they retrospectively apply for the refund now and offset any expenses i.e. ground rent?
Yes, all refunds are retrospective and we can still go back to earlier seasons if they have not yet applied for their refund.
How many years can a holiday home owner claim for?
We can go back 4 years after the tax return due date – so we can still go back to 2013/14 if filed before 5 April 2018.
Is there a limit on the refund, i.e. holiday homes priced from £10,000 to £300,000?
There is no limit on the price of the holiday home on which the claim is based but the refund is limited to the amount of tax paid by the taxpayer on their other income in the tax year.
If the buyer has all the relevant documentation, once submitted by caravantaxrefund.co.uk how long does the refund take to come through?
It does vary case by case but an average is about 8 weeks.
Can this all be done over the phone?
Yes, it can be initially set up over the phone or Skype consultation but there will be documentation that we will need to see and these can either be emailed or posted.
Can the application be completed online?
Yes, once initial contact is made we can email a form detailing the information required from the client.
Once an application is set up can the holiday home owner continue to claim for expenses in the coming years?
As long as they continue to meet the letting days criteria the owner can offset expenses against their letting income and we can continue to make annual capital tax allowance claims to obtain tax refunds if they continue to be tax payers.
As well as holiday homeowners can caravantaxrefund.co.uk assist Holiday Park organisations?
Yes these are normally organised in conjunction with the Holiday Parks and we can arrange tax clinic days or attend owners’ weekends if required. Just call our team and we will be happy to organise this with the park.
If you would like to find out whether you are eligible for a Tax Refund or require further information, please go to
caravantaxrefund.co.uk
