Buy to let self assessment… can I offset caravan site fees?

Xxadele92xx

Hello everyone,

I have a small buy to let portfolio where by I receive £24,000 a year. Me and my husband split this and complete a self assessment each year. We are thinking about purchasing a caravan and renting it out for part of the year. We would get an income from this, which we would obviously have to declare. But my question is, the site fees are £5,000 per year, could we deduct this from our self assessment ?

Pennywise

Xxadele92xx said:

Hello everyone,

I have a small buy to let portfolio where by I receive £24,000 a year. Me and my husband split this and complete a self assessment each year. We are thinking about purchasing a caravan and renting it out for part of the year. We would get an income from this, which we would obviously have to declare. But my question is, the site fees are £5,000 per year, could we deduct this from our self assessment ?

Yes, you can deduct the site fees from the rental income you earn.  Site fees for periods when you stay in it (or friends/family if not at market rate) wouldn't be allowed though.  So if you rent it out for half the year, and use it yourself (and friends/family) for the other half, you'd only deduct half of the site fees.  

sheramber

If the properties are in your name only your husband cannot claim half the income

Jeremy535897

Letting out a static caravan is normally treated as a furnished holiday letting business. See:
https://www.gov.uk/government/publications/furnished-holiday-lettings-hs253-self-assessment-helpsheet/hs253-furnished-holiday-lettings-2017

Note all the conditions attached. For some basic advice, see:
https://www.camplify.co.uk/blog/top-tips-every-static-caravan-owner-know-hiring-caravan