Latest News

Filtered By Category: Leisure

Feb 14 2024

Is your FHL business exceeding the VAT threshold?

Categories: LeisureTaxation

It is crucial to ensure that your business is VAT registered once it breaches the VAT threshold of £85,000. The threshold should be monitored on a rolling 12-month period, and many business operators do not realise this. The supply of FHL accommodation is a standard rated supply with VAT chargeable at 20%. This can have more

Dec 15 2023

How did the Autumn Statement impact FHL’s?

Categories: Leisure

In the weeks prior to the Autumn Statement, there had been rumours of an extension to the nil rate band for Inheritance Tax (IHT), but as it transpired, there was nothing mentioned. That ensures that any family succession or estate planning can proceed without the inconvenience of rules changes, with various IHT reliefs also left more

Dec 11 2023

Keeping it in the family

Categories: Leisure

The holiday park sector has always been heavily populated with family-owned businesses, often spanning several generations. Succession matters are perhaps the most important issues within family businesses, in particular picking the right method by which to pass on the family business. It would normally be assumed that this would be done by way of gift, more

Sep 15 2023

How we’ve been supporting our clients, Arbuckle’s Farm and Shop

Categories: Food & DrinkLeisure

Family businesses comes in all shapes and sizes, and being able to diversify can mean the difference between success and failure, especially for those in the food and drink sector. One of those clients is P A Arbuckle & Sons, who are a family farming business that have been involved in farming for multiple generations. They specialise more

Aug 16 2023

Maximising tax benefits for leisure sector businesses

Categories: LeisureTaxation

Running a business in the leisure sector is all about bringing joy and relaxation to your customers. However, when it comes to tax, it’s essential to ensure your financial wellbeing stays on ‘cloud nine’. Our EQ Leisure team provide some tips to help your business maximise any available tax benefits. Capital Allowances Remember that you more

Jul 20 2023

Cost of living crisis – good financial management

Categories: Leisure

As the cost of living crisis continues to bite with high energy bills, supply chain problems, and inflation at the highest rate for 30 years, many businesses are currently feeling the strain. During these difficult times, it is important to ensure the basics of good financial management is taken care of. Detailed and accurate management more

May 29 2023

Things to consider when applying for a business loan

Categories: Leisure

Refinancing existing loans, investing in new assets, renovating your current park, or even acquiring a new park are some of the reasons you may wish to apply for a business loan. However, in the current economic climate it isn’t always easy to be successful in your application. Lenders want to ensure your business is financially more

May 20 2023

Benefits of Cloud Accounting for Holiday Parks

Categories: Leisure

Over the past 5 years, we have found that many of our clients have moved to maintaining their financial records using cloud accounting software. The level of automation available benefits a business by reducing the time taken to process books and records. It can also enable you to extract more accurate, up to date information more