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Is this business a trade or furnished holiday accommodation?
KEY POINTS
- Can glamour and camping result in a trade?
- Tax treatment must be assessed on a case-by-case basis.
- Take account of guidance from recent tribunals on general principles of service and the structures.
- Lettings should be commercial with a view to the realisation of profit.
- Lessons to be learned from the recent case of J Nott.
- The tax treatment of the whole operation must be considered ‘in the round’.
The first question to be asked on seeing this title is perhaps ‘what is glamping?’ It might come as a surprise to learn that the answer lies in the unusual portmanteau of ‘glamour’ and ‘camping’ taking place on a farm. The next question that might be asked is ‘on what planet could any form of camping...
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