Whether you are running a new holiday or caravan park or it has been around for a while, it makes sense to operate in the most tax-efficient way.
At Milsted Langdon in Bath, Bristol, Taunton and Yeovil, our expert tax team will look at all aspects of your tax position, from whether your business structure brings the maximum tax benefits to pension contributions and tax-efficient remuneration.
We can also ensure you are making best use of all the tax allowances and reliefs available so that you are not taking out money to pay tax liabilities, rather than investing in developing your holiday or caravan park.
We can look at ways to make the annual investment allowance (AIA) for tax-free investment in plant and machinery work for you, alongside the capital allowances that offer tax relief on spending above the AIA and on some expenditure on buildings and on “green” technology and equipment.
We can also advise on VAT issues, which are particularly complex for caravan parks and include rules governing the supply of utilities and different treatments for holiday parks than residential parks.
If you decide to sell your business, we can help you to obtain the maximum benefit from entrepreneurs’ relief on capital gains tax on the profits, without this impacting adversely on your inheritance tax position.
At Milsted Langdon, we don’t see, tax planning as just about saving your money: it’s an integral part of our work to support your performance improvement and business growth.
Because we understand that your business and personal lives are closely linked, we can also advise you how to manage your own tax affairs in the most effective way, as part of our broader wealth management services.
To find out how we can help you, please contact us.