Holiday Let Business

[Jammez]

Hi Folks

We're currently going through the process of converting our outbuildings into holiday lets. It's a long term project and also part of a change of lifestyle for us. We have planning permission submitted for 5 properties ranging from a 1 bedroom Bothy to 3 bedroom cottages. There's also flexibility built in to join cottages together to accommodate large families etc.

Does anyone have any advice & pointers on the best way to go about this from a business perspective? There seems to be lots of info online about things to think about when running a holiday let business from a logistical & practical perspective but very little on the actual structure of such a business. I'm quite confident in putting together all the costings/income/expenditure to give us a sense of the income, I'm talking about things like pro's & cons if we set it up as a ltd company? Who owns the property us or ltd company? Do we just use a ltd company to let out the property but retain ownership as individuals?

Any pointers or sources of info would be greatly appreciated. I'd also add we already have a ltd company (retail) and we will be chatting through with our accountant but it would be good to have some pointers so I can ask him some of the right questions.

Cheers

James

[hellorent]

Lots if info here: https://www.laymyhat.com/forum/

[Herdwick]

This is exactly what we do, (Have done for last 14 years)

Feel free to PM me if I can help with some info.