Thank you for your question.
You say you rent out your caravan for more than 105 nights a year say around one third of the year.
Caravans provided mainly for holiday lettings qualify for capital allowances as plant and machinery. More information on this can be found here (Sec 23 List C)
This site does not recommend accountants or other advisors. If you are stuck in completing your tax return, I will be happy to help you here.
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Hi Tony, thanks for your reply..
I did not receive any further question from you..please resend it.
Thank you for your reply..
You are correct in your understanding about the caravan being classed as a furnished holiday letting business.
Wear and tear allowance was available against rental income arising from furnished letting. This has stopped from 6 Apr 2016 and now you claim actual cost of replacement of items.
More information on this can be found here
It would be helpful to have receipts for expenses you claim against the letting income. Gas and electricity are normally paid for by DD's and your bank statement showing direct debit payments should suffice. For cleaning, you may have to write a receipt to support payment.
Your travel trips to the caravan site would be allowable expense.. I suggest you claim mileage allowance of 45p a mile for miles you travel for site inspection etc.
I will be happy to help you with your tax return as a premium service here.
Thank you for your reply.
Your tax return 2016 is under the old system as the new system is effective from 6 Apr 2016.
You would claim writing down allowance (capital allowance) against capital spend on a caravan. You bought a caravan in 2013 and the WDA is on reducing balance and not straight line..
I will be happy to review your accounts pertaining to letting income and your tax return and hopefully add value for the additional service. You have to decide if you think it is worth it. My fee in this case would be an allowable expense against rental income.
Does you income from all sources cover all your personal allowances?
I am sending you an offer in case you wish to take it.
I hope this is helpful.
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I will contact you tomorrow afternoon/early evening.
Enjoy your weekend.