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Happy glampers
Key points
- Moveable lodges in a holiday operation will qualify as plant and machinery for super deduction purposes if they meet certain conditions.
- There will be much debate as to what actually qualifies for the allowances but the tax advantages are obvious and potentially one-off.
- When a farm diversifies its operations into commercial holidays whether it carries on a trade or property business is a question of fact.
The spring Budget brings in chancellor Rishi Sunak’s so-called ‘super deduction’ tax relief offering the ability to offset 130% of investment in new plant and equipment in the year the spending occurs for the two years from 1 April 2021 – spending incurred between 1 April 2021 and 31 March 2023. This advantage only applies to companies. Much attention has been placed for example on incorporation of part of the farming operation as a result of this tax advantage together...
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