Options Fiscales

[Atty]

Apologies if this has been asked before. We are in the process of registering our B&B and are now at the stage when they are asking us what TVA option we would like to take. The B&B/Gite is our main income, can anyone advise us please as we are struggling to find anyone who speaks good enough english to explain it all and our french is not up to understanding the complicated french involved. The options are:

BIC - micro/reel simplifie/reel normal

TVA - franchise en base/reel simplifie/mini-reel/reel normal

We will be getting an accoutant but as customers are already booked we would like to register asap.

Many thanks

[Quillan]

I think I am right in saying that you don't need to register for TVA, we certainly have not and have never been asked to do so. It just adds more paperwork.

If you are not going to earn over 70 odd thousand Euros per year then register as a micro BIC. Its much easier to do, does not require you to keep accounting books or reciepts for purchases as you are allocated fixed tax relief which is very generous. All you need to do is keep a copy of every invoice you make to guests (and you must create an invoice for every guest). If you go to the tax office to register they will normally help you and show which box you put your years takings in after which you can work it out every year. This saves the need to get and pay for an accountant. We certainly have never used one, it's hard enough making a living without paying somebody a couple of thousand euros to put a few numbers in a box.

Talking of box's, don't worry about bank interest etc as the bank will send you a letter every year which contains what numbers you have to enter in to what box on the tax form (they give you the actual box number on the tax form). It is rather simple really. If I have made any errors I am sure others will correct me.

[Atty]

Thank you so much Quillan you have answered everything we need to know, you are a star [:D]