Hospitality operators have several extra tax features compared to other businesses. Prospective clients need to consider this when selecting their accountant, who needs to have experience in this area.

Usually the business owner lives on the premises and shares domestic services such as water and electricity. Also there is often a mortgage for the whole property. It is important that these expenses are divided correctly and to the best advantage of the client.

Motoring expenses may again be divided between business and domestic.

Full and correct claims for capital allowances are a key component in minimising tax for property rich businesses. At Accounting & General we have strong expertise in identifying opportunities to claim for what are called integral features and fixed plant within the structure of a building.

The equivalent to income tax for businesses trading as a limited company. But there are critical elements in the way that a business is operated that may incur or save tax.

We crunch the numbers for clients and advise on how best to purchase and account for their business motoring. Vehicle taxation has changed to the extent that a company car is unlikely to be a viable tax option.

A business owner or director may live on site and use shared services. The way this is done can have a big impact on benefit in kind charges. We advise clients how to arrange their affairs.

At Accounting & General we consider a client’s liability for capital gains tax from the time of purchase, to the ultimate sale.

Various allowances and reliefs can be put in play to minimise liability. These include the residential lettings allowance and roll over relief.

We compute the client’s liability as it stands and put forward suggested actions around the numbers, to minimise liability.