Valuation Office Agency
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Providing trade information for self-catering holiday lets
The VOA is asking some owners of self-catering holiday lets for further information about their property.
The Valuation Office Agency (VOA) is writing to some owners of self-catering holiday lets that are assessed for business rates.
We are doing this because we need further information about the income and expenditure of these properties.
Last year, we wrote to most self-catering holiday let owners in England and Wales to ask them to provide letting information about their property.
This information was used to determine if properties should be assessed for business rates or Council Tax. You can read more about this in our blog.
If we determined that your property should be assessed for business rates, you may receive another form which asks for some additional information.
It will look similar to the form we sent to you last year.
How we will use your information
The information you provide will be used to calculate the rateable value of your property. Rateable values are used by councils to calculate business rates bills and determine if you are eligible for business rates reliefs.
We are legally required to update the rateable values of all non-domestic properties, including self-catering holiday lets, every three years. This is called a revaluation.
We do this to make sure business rates bills are based on up-to-date information.
To value self-catering holiday lets, we need information about your income and expenditure. You can read about how we value your property for business rates in more detail in our blog.
Provide the information within 56 days
Forms will be sent between February and August.
If you receive a form from the VOA asking for information about your self-catering holiday let, it’s important that you return it within 56 days of when it was issued.
If you do not, you may have to pay a penalty.
Check you have provided all the information we have asked for before you return the form, even if you have previously shared some information with us. If you return the form and it is partially incomplete, you may still have to pay a penalty.
You only need to share your details with us if we have asked you to.
Original article link: https://www.gov.uk/government/news/providing-trade-information-for-self-catering-holiday-lets
