Accountant in Torquay TQ1-TQ2 | Your Tax Help Accountants

Accountant in Torquay

Tax & Accounting for Torquay Businesses

Torquay TQ1-TQ2 is the principal town of the English Riviera in Devon, with a large tourism, hospitality, leisure and seasonal economy — hotels, guest houses, restaurants, cafes, the harbour and visitor attractions — alongside a town-centre retail base. The town has a substantial self-employed and small-business community, a significant holiday-let, guest-house and buy-to-let landlord market, and strongly seasonal trading patterns that need careful cash-flow management.

That gives Torquay a particular accounting profile. The tourism, hospitality and leisure businesses need seasonal hospitality bookkeeping with the right VAT and tronc treatment. The self-employed and contractors need the right structure. Family businesses — many in hospitality — need proper structures. And the holiday-let, guest-house and buy-to-let landlord community needs Furnished Holiday Let and Section 24 advice. We work with Torquay clients entirely online, with fixed monthly fees.

💡 As an HMRC-registered agent we deal directly with HMRC on your behalf, so you never have to spend hours on hold or navigate their website yourself.

What We Do

Full-Range Tax & Accounting for Torquay

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Self-Assessment Tax Returns

Full SA100 for self-employed, landlords and individuals. Filed direct to HMRC, same day if urgent.

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CIS Compliance

Complete CIS for contractors and subcontractors. Monthly returns, deduction statements, refund claims.

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Limited Company Accounts

Year-end statutory accounts, Corporation Tax returns, and director self-assessment. All filed on time.

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Landlord Tax Advice

Rental income reporting, capital gains planning, Making Tax Digital, and allowable expense guidance.

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VAT Returns

MTD-compliant VAT submissions and ongoing bookkeeping to keep records clean and cash flow transparent.

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Payroll Services

Monthly payroll processing, RTI submissions to HMRC, and auto-enrolment pension administration.

Client Story

How we sorted a Torquay guest house's tax for £7,900 saving

Client K runs a guest house and holiday apartments in Torquay, with strongly seasonal income peaking over the summer season. The business was run as a sole trader, the holiday-let treatment hadn't been reviewed since the Furnished Holiday Let rules changed, the seasonal cash flow caused tax-payment stress, and there was no structure for the spouse who worked full-time in the business.

We reviewed everything in light of the abolition of the Furnished Holiday Let regime from April 2025 — the lettings now fall under the standard property rules, so we re-based the treatment, captured all the legitimate running costs, modelled whether incorporating the business made sense, brought the spouse into a proper structure, and set up a cash-flow plan to smooth the seasonal tax payments.

Total outcome: annual tax saving of £7,900 through correct post-FHL treatment, full capture of running costs, proper spousal involvement, and a seasonal cash-flow plan that removed the tax-payment stress.

Common Questions

Frequently Asked Questions

I run a Torquay guest house or holiday let. How are the lettings taxed now?

The Furnished Holiday Let regime was abolished from April 2025, so furnished holiday lets now fall under the standard property income rules — losing the previous CGT and capital allowances advantages. We re-base the treatment correctly, capture all legitimate running costs, and advise on whether a company structure now makes sense given the change.

Do I need to be local to use you as my Torquay accountant?

No — we work with Torquay clients entirely online, by phone, email, video call and secure document exchange. You get the same depth of understanding and personal service without needing to visit an office. Most modern accountancy is handled remotely.

I run a Torquay hotel, restaurant or cafe. What do you provide?

Seasonal hospitality bookkeeping geared to your peak-and-trough trade, the right VAT treatment, payroll, tronc for tips, annual accounts and Corporation Tax if a company, plus director self-assessment — bundled into a fixed monthly fee with cloud accounting. We help smooth the seasonal cash flow for tax payments.

My seasonal Torquay business has cash-flow swings. How do you help?

We forecast the seasonal peaks and troughs, plan your tax payments around them (including Time to Pay arrangements with HMRC if needed), and structure your drawings so you don't get caught short in the off-season. Cloud accounting gives you a live view of your position.

My Torquay hospitality business uses tronc for tips. How does it work?

The tronc must be run by an independent tronc master through a separate payroll. Tronc payments are subject to income tax but exempt from employer and employee NIC. The Tipping Act (October 2024) requires 100% of tips reach staff. We'll structure it properly.

Should my Torquay business be a Ltd company?

At profits above £40,000-£50,000 a Ltd company typically saves £2,500-£5,000+ a year through salary-plus-dividend structuring, plus limited liability. Below £30,000 the saving rarely justifies the extra admin. We'll model both with your numbers.

I'm a Torquay landlord. What can I claim against rental income?

Repairs and maintenance, letting agent fees, landlord insurance, ground rent and service charges if leasehold, gas and electrical safety certification, mortgage interest (with the Section 24 restriction), and Replacement of Domestic Items relief on furniture. For holiday lets the post-April-2025 standard property rules now apply — we'll advise. We capture everything and file your self-assessment.

How do I get started?

Book a free 15-minute call via Calendly, or call our office on 020 8050 4564 or mobile 07478 645331. We work with Torquay clients fully online and we're experienced with tourism, hospitality and seasonal businesses, guest houses, holiday lets and the TQ community.

Accountant in Torquay for Small Businesses