Self-Catering-Online

We all have to fill in census forms this weekend for our own homes; and we need to conplete them for our Holiday let properties.

I struggled to understand what we had to do for our holiday lets, so called the help line.  It took a long time!! So to try and prevent you having to hang on to the phone for ages, here’s what I found out.

For the holiday let properties, we have to complete sections H4 to H12 and all the V questions which are on the back page of the form.  The H questions are about the property and the V questions about the temporary visitors.  My plan is to complete the forms online – unless I get stuck!  The web-site is http://www.scotlandscensus.gov.uk/en/.

Let us know how you get on.

All the best

Janet

photo credit: {Guerrilla Futures | Jason Tester}

The recent weather is causing difficulties for many people.  We have seen many more requests for refunds as a result of people not being able, or not wanting to risk, travelling.

This is a tough position and no-one wants to lose out: guests want a refund, but the owner of a holiday let property wants to be paid for a booking.  Unforeseen events of this type are the reason we recommend people take out travel insurance.  The Time today has a Q&A about the current difficulties which advises people to try and recover lost accommodation costs through insurance.  I do agree with this approach.

What’s your experience and what line are you taking?

Below is a table showing key dates for holiday let owners to be aware of in Edinburgh in 2011.  As ever, there’s lots going on, especially in May – when it looks like it could be as busy as August!  Please do update your date ranges so that you are charging the right rate for all the special dates that will mean a busy Edinburgh!

It can be difficult to work out appropriate pricing for holiday let accommodation.  The obvious first step is to check out what similar properties are charging.  Having done this, you have to decide whether you are pitched at the budget end or the luxury end of the market and adapt your prices accordingly.

A further complication, which is a major issue in Edinburgh particularly, is differential pricing by date.  What are the times when you can charge higher prices – commonly in Edinburgh the festival, Hogmanay, the Marathon weekend and some rugby weekends – and when do you need lower prices because there are fewer visitors?  You need to decide how much extra you can charge in the high season and how much you are prepared to charge in lower seasons.

Our advice is that you need to have your pricing worked out for at least a year ahead.  Now in August 2010 we are getting enquiries from people who want to book August 2011.  After any event we find people who want to book for the next year.   They have either loved their accommodation and want to secure it for next year, or hated it and want some thing better next year!

After what feels like ages of confusion over what is happening with the tax treatment of furnished holiday lettings, a consultation document has been issued by the new government setting out their proposals.  Use the link to access the full document.  You can participate in the consultation as described in the document.  The consultation period lasts until 22 October.

The proposal is to retain special tax rules for furnished holiday lettings, but the rules proposed are more stringent than the existing rules.   Specifically it is proposed that:

• properties should be available for holiday letting for 210 days (as opposed to the current 140 days) per year
• properties should be actually let as a holiday let for 105 days (as opposed to the current 70 days) per year
• losses can only be offset against other furnished holiday lets rather than any trading activity.

Longer lets of more than 31 days for 155 days per year appear to be accepted for properties designated as furnished holiday lets.

So if you are letting your properties as short term or holiday lets full-time, as many of us do, these rules will be less of a change than for people who let short term for some of the year and have longer lets for the rest of the year.

As usual we’d love to hear your views.