Members are advised to remember the tax implications of moving into other seasonal activities connected with, but not necessarily directly related to, their main business activity. Income Tax, VAT and RTI are among the areas where attention should be paid. Professional advice should be sought where there is any doubt.
Selling or leasing land for the sale of Christmas trees or seasonal products; operating Christmas markets and leasing land for seasonal attractions are all examples where tax implications will be relevant. As well as appropriately declaring income to ensure no adverse consequences, those who are VAT registered will need to account for VAT on sale prices and those not registered will need to bear in mind their total income and possible breach of the VAT threshold. Where staff are taken on for the Christmas period they will be subject to the normal PAYE regime including Real Time Information reporting. For further information or advice please contact your tax adviser.