InJ Beacon v HMRC[2018] UKFTT 104 (27 February 2018) the FTT found that the trade of a ‘hospitality home’ in a grand Tuscan villa had been carried out on a commercial basis.
In 2003 Mr Beacon had purchased at public auction a villa in Tuscany which was run down and dilapidated. He was not able to commence restoration works until 2006 when he acquired legal title under Italian law. The intention of Mr Beacon was to create a ‘hospitality home’ a concept he described as ‘better and different from a bed and breakfast or a hotel’ as the experience was tailored to the exact requirements of each guest. The villa received its first guests in 2010 although the restoration was not fully completed until 2012.
Mr Beacon suffered losses in both 2010/11 and 2011/12...
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InJ Beacon v HMRC[2018] UKFTT 104 (27 February 2018) the FTT found that the trade of a ‘hospitality home’ in a grand Tuscan villa had been carried out on a commercial basis.
In 2003 Mr Beacon had purchased at public auction a villa in Tuscany which was run down and dilapidated. He was not able to commence restoration works until 2006 when he acquired legal title under Italian law. The intention of Mr Beacon was to create a ‘hospitality home’ a concept he described as ‘better and different from a bed and breakfast or a hotel’ as the experience was tailored to the exact requirements of each guest. The villa received its first guests in 2010 although the restoration was not fully completed until 2012.
Mr Beacon suffered losses in both 2010/11 and 2011/12...
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