Should you be playing the TOM TOMS?

If your strategy is Rent to Serviced Accommodation, it is likely that you fall within the TOMS scheme for VAT.

By Debbie Franklin, Director of Tax and property tax specialist

If your strategy is Rent to Serviced Accommodation, it is likely that you fall within the TOMS scheme for VAT.

This will allow you to measure your margin (turnover less all direct costs) against the £85,000 VAT registration threshold rather than turnover. If you do need to be VAT registered you pay VAT on the margin.

Just be sure that the property owner remains responsible for the repairs to the fabric of the building.

If you meet the criteria, TOMS is automatic, there is no need to apply.

Peplows Property

FREE INITIAL REVIEW

Contact us for a free initial review.

learn more

© 2019 Peplows Property. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Peplows Property Tax Experts is part of Peplows Chartered Accountants and is a trading name of Peplows Limited, Registered In England Company Number: 3133714 - Registered Office: Moorgate House, King Street, Newton Abbot TQ12 2LG
A list of Directors is available at the Registered Office
Peplows Limited is registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales
Details about our audit registration can be viewed at www.auditregister.org.uk, under reference number C003872129