S
stargazer
Guest
I am in the process of building a purpose built guesthouse which I will also be using as my principal private residence. I am already VAT registered as a tourist accommodation provider. The property will have a total of 5 bedrooms, 4 guest bedrooms and 1 for my private use. What expenses can I claim as a start up cost for my new guesthouse business? Will I be able to claim construction costs or just fit out costs? On what basis? Example house is 80% for commercial use (4 out of 5 are rentable guest rooms), will 80% of costs incurred be deductible costs. Also how is VAT treated in this regard, as my guesthouse will be VAT registered.
Any thoughts or comments welcome,
Stargazer
Any thoughts or comments welcome,
Stargazer