DHC Accounting

OUR Services

| Compliant Services - Mainstream | Specialist Services - Holiday Cottages |

DHC Accounting provides a specialist service for Holiday Cottages' Owners which basically comprises a comprehensive accounting and tax service (by way of post, email, telephone, fax and on a personal level) on a fixed fee basis.

Tax Benifits of Holiday Letting

Click here to go to dedicated Owner website for Country Cottages

More holiday cottage owners promote their property through English Country Cottages, and with good reason...
The dedicated Owners website for Country Cottages is part of Holiday Cottages Group, the largest cottage holiday letting organisation in Britain....

This website is run by Home Counties Mortgage Services Limited who specialise in arranging Holiday Let Mortgages.
Purchasing a second property to holiday abroad has become increasingly popular in recent years. However, complexities associated in dealing in a foreign language combined with an unfamiliar legal framework and taxation system is resulting in more and more people looking instead to purchase a holiday property in the United Kingdom .

Click here to go to Holiday Let Mortgages

Our Promise

Accounting Information

Our Tax Benifits of Holiday Letting
Self assessment and the general overhaul of the UK Taxation System introduced the concept of having a "Rental Business" and a change in the way profits on all rented properties are calculated. These measures allow more expenses to be claimed against rental income and on the surface it looks as though there is now little difference between having a property which is tenanted and that which is dedicated to holiday letting. Taxation Report More Info...

Our Promise
Within 5 weeks (and usually much sooner than that), assuming that you have provided us with all the information we require, we will prepare the financial accounts for the holiday cottage together with tax computations and the land and property schedule to attach to your self assessment tax return form and the return itself if you have requested it.

Accounting Information
Your holiday letting accounts will be prepared to 5 April each year and the information that we would like to receive from you would comprise:

Your monthly statements from the Holiday Cottages Group which will give us details of the income and also if you have any private lettings, you need to tell us the amounts that you received.
Details of all expenditure associated with the property; we do not necessarily need you to send us all of the receipts and bills if the information that you are providing is detailed enough.
Details of your mortgage and mortgage statements if you have one.
A brief history of the property.

Income Tax Returns
As cottage owners, you are bound to make a return of income and expenses for your cottages, together with all other information relative to your tax return and this needs to be submitted by 31 January following the end of the previous tax year.

Once the Inland Revenue receive your returns, they have a full year after 31 January deadline to enquire into any aspect of the return they so wish
In our experience, detailed enquires into ordinary traders returns have been few in number, but that those actually investigated have been extremely detailed and time consuming. On the other hand, enquiries into holiday let cases tended to be rather less detailed. Don't be fooled though! - the taxman has stated the number of enquiries will increase substantially next year so the chances of you being subject to a random detailed enquiry at some stage is on the increase as this tends to raise income for HM Government Coffers! Nevertheless, it is imperative that you as individuals are ready for any enquiry that may be made into your tax return.

Tax Refunds
The tax treatment of furnished holiday accommodation is a specialist area and not everyone is aware of the special tax perks that are available. Many of our new clients have been very surprised by the level of tax refunds that we have been able to achieve for them.

Fees
The fees that we charge are in accordance with the menu of prices on the registration form. Obviously, there are some special cases where there may be particular complications (For example an Inland Revenue Investigation) or perhaps more than one year's work to do and in these cases we will always discuss the fees with you before we commence work.

Often, we are asked by clients to provide accountancy and tax services for other businesses in which they may be involved and we are always happy to undertake this work and guarantee a fixed fee in advance.

Current Fee Structure

One year Cottage Accounts and Tax Calculations (standard land and property schedule only)	£395.00
Additional fee per extra cottage	£60.00
Each extra tax return to complete (e.g. Self and/or Spouse)	£115.00
Fees include VAT @ 17.5% and are fully tax deductable

In the majority of cases we act for, the tax savings made for our clients and tax refunds earned are far greater than our costs, leaving the client with, effectively, a free accounting service and a lump sum from the Tax Inspector!

How Does It Work
The answer is very simple - you just complete the registration form on the website. In the first instance, you might like to telephone to discuss specific matters. If appropriate you can print the registration form and post it along with your accounting information.