govt 10k grants for holiday house let business

[kurt535]

ive looked elsewhere but couldn't see a thread on it so apologies if there is one already

basically, i have holiday let business. i have got conflicting messages i can/cant apply for the grant. i looked at the form and it asks for business rates number. each house doesn't have this just a normal council tax banding and associated account number.

i assume i cant apply?

ty in advance.

[SS2.]

It reads to me that you pay Council Tax on each of the properties, rather than being charged Business Rates, even if those Rates are subject to 100% relief.

If that's the case, then you won't meet the qualifying criteria for a grant.

[Top pup]

I believe it is worked out in relation to your business rates. My business had a letter from the council regarding it, we didn't have to apply or anything, just simply give them the bank account details for them to make the payment to.

As I understand things if you are eligible your council contacts yoy rather than the other way around.

[SS2.]

Top pup said:

As I understand things if you are eligible your council contacts you rather than the other way around.

I think that depends on the council.

We have qualifying businesses covered by two different councils - one has contacted us, the other needs us to contact them.

[plasticpig]

Fully furnished short term holiday lets can be treated as commercial premises and thus be subject to business rates rather than Council Tax. As such many qualify for small business rates relief so qualify for the grant. Unfortunately you don't seem to have reclassified your properties as commercial premises so don't qualify. I am surprised you accountant didn't raise this with you as an option as it's quite a saving paying no council tax and no rates.

[Top pup]

SS2. said:

I think that depends on the council.

We have qualifying businesses covered by two different councils - one has contacted us, the other needs us to contact them.

Yes I think it is up to the each council, but I think the main qualifying condition is paying business rates.

Tbh our letter had very little info on it anyway.

[Groat]

plasticpig said:

Fully furnished short term holiday lets can be treated as commercial premises and thus be subject to business rates rather than Council Tax. As such many qualify for small business rates relief so qualify for the grant. Unfortunately you don't seem to have reclassified your properties as commercial premises so don't qualify. I am surprised you accountant didn't raise this with you as an option as it's quite a saving paying no council tax and no rates.

There was a PH thread a few days ago about a guy whose friend has a small collection of FHLs each one operating as a separate limited company. He was entitled to the £10k grant for each one!

Winners and losers from what is becoming known as 'Rishi's Ruses'.

[SS2.]

Groat said:

There was a PH thread a few days ago about a guy whose friend has a small collection of FHLs each one operating as a separate limited company. He was entitled to the £10k grant for each one!

Winners and losers from what is becoming known as 'Rishi's Ruses'.

When this is done and dusted and he's able to let his properties again, will he be a winner or a loser ?

[Groat]

SS2. said:

When this is done and dusted and he's able to let his properties again, will he be a winner or a loser ?

How do you mean? Will his grants amount to more than his losses through being unable to take rents?

Dunno. Suppose that would depend on how long the prohibition goes on for and how much he nets from them.

One thing's for sure, he's doing better from the Ruses than almost any other landlord.

[SS2.]

Groat said:

One thing's for sure, he's doing better from the Ruses than almost any other landlord.

Is he ?

He's unable to let his properties at all, whereas landlords of residential properties can continue letting as normal.

[Groat]

SS2. said:

Groat said:

One thing's for sure, he's doing better from the Ruses than almost any other landlord.

Is he ?

He's unable to let his properties at all, whereas landlords of residential properties can continue letting as normal.

I meant from the "support systems" (like the rates grants). Put it this way, I'd be pretty pleased if Rishi gave me £10k per unit!!

[Simpo Two]

A cousin of mine had a large detached garage adjoining his house, and converted it into a shiny new 1-bed holiday let at the end of last year. He spent the last of his liquid cash on it, signed up with Sykes and waited for the cash to roll in.

I think he was up to 8 bookings when the virus hit; bookings stopped and I presume those already booked cancelled or postponed.

I doubt he pays business rates on it so would he be able to get any assistance?

[mikeiow]

Simpo Two said:

A cousin of mine had a large detached garage adjoining his house, and converted it into a shiny new 1-bed holiday let at the end of last year. He spent the last of his liquid cash on it, signed up with Sykes and waited for the cash to roll in.

I think he was up to 8 bookings when the virus hit; bookings stopped and I presume those already booked cancelled or postponed.

I doubt he pays business rates on it so would he be able to get any assistance?

Don't think so
We have a cottage on the IOW, but never moved to business rates (whilst it is available all year, we only generally get 12-16 weeks let each year, so we can use it outside that). Pretty certain we are jiggered, fiscally speaking. The bookings are fading away as the days go by....

He may potentially be able to hold onto deposits, but we have let people chose to rebook or have a refund - just feels the right thing to do, even though it is hitting our income. Hopefully those folk will return later in the year, or next year (goodwill & all that).

[Downward]

Groat said:

SS2. said:

Groat said:

One thing's for sure, he's doing better from the Ruses than almost any other landlord.

Is he ?

He's unable to let his properties at all, whereas landlords of residential properties can continue letting as normal.

I meant from the "support systems" (like the rates grants). Put it this way, I'd be pretty pleased if Rishi gave me £10k per unit!!

Don’t worry we will all be paying it off soon enough.

[aponting389]

None of the above is ‘trading income’ is it? So wouldn’t be eligible for any grants anyway?

Edit: Just found out holidays let’s are treated as trade not investment!

[SS2.]

Groat said:

SS2. said:

Groat said:

One thing's for sure, he's doing better from the Ruses than almost any other landlord.

Is he ?

He's unable to let his properties at all, whereas landlords of residential properties can continue letting as normal.

I meant from the "support systems" (like the rates grants). Put it this way, I'd be pretty pleased if Rishi gave me £10k per unit!!

I'm certainly not knocking the payment scheme.

We're thankful that our holiday let does qualify for a support grant, and I do feel for those folks with holiday rental units which haven't been registered as businesses.

My point was that it remains to be seen whether any grant payments we receive will cover the revenue which has been lost whilst we've been unable to accept bookings.

[Groat]

Downward said:

Groat said:

SS2. said:

Groat said:

One thing's for sure, he's doing better from the Ruses than almost any other landlord.

Is he ?

He's unable to let his properties at all, whereas landlords of residential properties can continue letting as normal.

I meant from the "support systems" (like the rates grants). Put it this way, I'd be pretty pleased if Rishi gave me £10k per unit!!

Don’t worry we will all be paying it off soon enough.

Do you mean paying off these benefits we never received via crackpot taxation?

That'll go down well!

Edited by Groat on Tuesday 14th April 15:27

[SS2.]

aponting389 said:

Edit: Just found out holidays let’s are treated as trade not investment!

If it's registered as a business, yes.

[djohnson]

kurt535 said:

ive looked elsewhere but couldn't see a thread on it so apologies if there is one already

basically, i have holiday let business. i have got conflicting messages i can/cant apply for the grant. i looked at the form and it asks for business rates number. each house doesn't have this just a normal council tax banding and associated account number.

i assume i cant apply?

ty in advance.

Yep, I have a furnished holiday let, you needed to have it registered for business rates (and qualified for small business exemption) on a date in March (think it was 23rd but not sure). My application for the £10k was very quick, I applied online on the Thursday night and they paid it into my bank the next day! Sorry but suspect you’ve missed the boat here by not registering for business rates previously.

[kurt535]

djohnson said:

kurt535 said:

ive looked elsewhere but couldn't see a thread on it so apologies if there is one already

basically, i have holiday let business. i have got conflicting messages i can/cant apply for the grant. i looked at the form and it asks for business rates number. each house doesn't have this just a normal council tax banding and associated account number.

i assume i cant apply?

ty in advance.

Yep, I have a furnished holiday let, you needed to have it registered for business rates (and qualified for small business exemption) on a date in March (think it was 23rd but not sure). My application for the £10k was very quick, I applied online on the Thursday night and they paid it into my bank the next day! Sorry but suspect you’ve missed the boat here by not registering for business rates previously.

hiya.

been resolved another way...theyve been let as emergency accommodation.

ty everyone for your answers..been busy lately so unable to read sooner. ty