Bought old house, plan to run B&B

09-07-2022 12:58AM #1

Hi just bought a period house, and hope to run B&B.

Can I set up a company with the house as an asset and charge all expenses to the company? Any suggestions appreciated.

Mick Tator · 11-07-2022 11:01PM

Go talk to an accountant. If you can afford 'a period house' you need and can afford professional help.

Gloomtastic! · 12-07-2022 01:00PM

As suggested, you need to talk to a professional about financial matters.

If you are near a city, maybe look at taking foreign students in who want to learn English. The market in Ireland has exploded because of Brexit.

Mrs OBumble · 12-07-2022 01:18PM

Does it have planning for short term accommodation?

12-07-2022 02:43PM

Absolutely...just cuirious about what others experiences were.

12-07-2022 02:45PM

Yes was operating as a guest house until recently a year back. Owners returning to UK.

GerardKeating · 14-08-2022 01:34PM

Don't assume it was operating with the correct planning permission, best to spend a few minutes checking that out.

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