sam in france Posted September 16, 2004 Share Posted September 16, 2004 This is a further request for info following the one i did belowMy wife and i went to see an accountant yesterday and he opened a door which we were not thinking of, he outlined two different accounting ways one being micro bic, which i was thinking of doing and the other being full accounting including paying TVANow at first we had no intention of getting involved with TVA, but the way he did it we ended up with the same tax bill with both methods on a estimated income of 50,000 euros, you can bring things like depreciation into the calculationsThe disadvantage being higher accountancy billsThe Carrot, our chalet is new less than a year old, we can claim back the TVA paid on the chalet and also all the items we have purchased since, well 75% of, which amounts to about 40,000 euros, so as you can see that is a big carrotIf we stop the business we would have to pay back the TVA on the chalet less 5% for each year, at the moment we intend this to be a long term thingHas anybody got any thoughts based on your own experiencesInfo for others, The accountant confirmed that no inspections were necessary for a business of 5 rooms or below, where you live in the buildingNeeded to register with two different locations didn't get which, they are going to do it, but would cost about, 250 eurosneeded a licence to serve drinks, obtainable from the marieI think that ties in with advice given on this siteRegardsSam Edwardswww.chaletwensam.com Link to comment Share on other sites More sharing options...
Coco Posted September 16, 2004 Share Posted September 16, 2004 "needed a licence to serve drinks, obtainable from the marieI think that ties in with advice given on this site"It may be the case in your departement but here in 50 they didn't even know that you needed a licence at our Mairie. We were directed to the hotel des douanes where we got ours. Link to comment Share on other sites More sharing options...
Teamedup Posted September 16, 2004 Share Posted September 16, 2004 Coco, some Mairies don't actually know that much really. Sometimes they aren't too hot on stuff which should be their domain, never mind stuff that isn't. Link to comment Share on other sites More sharing options...
Lachouette Posted September 17, 2004 Share Posted September 17, 2004 [quote]"needed a licence to serve drinks, obtainable from the marie I think that ties in with advice given on this site" It may be the case in your departement but here in 50 they didn't even know that you...[/quote]We also had to get our licence from the Douanes (87) but ended up going back twice because the douanes insisted the licence was in Richard's name. When we took it to the chambre de commerce, along with all the other bits of paper you need to register the business, we were told to get another licence in my name! The chambre de commerce wanted to regsiter the enterprise in the name of the person who spoke the best French and of course, the licence had to match the other paper work. Find out for your area so you don't have to make two visits!Sorry - haven't got the hang of this board yet and have managed to put the wrong quote in! Meant to quote Coco's comment about going to the douane for the licence.Jan Link to comment Share on other sites More sharing options...
Cj Posted September 17, 2004 Share Posted September 17, 2004 I dont have a B&B but my accountant also said to me it works out about the same if I do TVA or not. Just the accountancy bills will be more. HA. (he will say that as it is more money for him) Well I am regretting his advice as his bills are astronomical and I have to charge 19.6% more for my product. It is a scary thing when my TVA bill arrives every time. I also do not have much to reclaim. If I had done it the micro way I would be able to charge the same amount for my product but the 19.6% would be able to go to me which can then pay for my cotisation and also I would not be paying thousands of Euros extra for an accoutant.CJ Link to comment Share on other sites More sharing options...
sam in france Posted September 18, 2004 Author Share Posted September 18, 2004 Thanks for your input CJYou don't say what service you doThe accountant, broke down the TVA which we would have to pay and he estimated it would be 8%There are differing rates for food accommodation and transport, unfortunately i did not get the individual rates, does anybody know them ?In relation to his cost they were high, however we have a accountant friend in the uk who said he will show us how to do the accounting, so once we know where we are we could prepare this stuff ourselvesThis leaves us with the reason we are asking for advice, We will receive 40,000 to 45000 euros back from the tax man, 75% of the TVA paid on our chaletIf we go down the TVA route i could invest this and earn 5% tax free without taking risks 2000 euros per year, also for each year we trade we get to keep 5% of the 40,000 paid to us IE we would not have to repay it if we closed the business down, another 2000 euros per yearSo you can see how attractive the TVA route appears at the momentI would appreciate it if somebody could breakdown our TVA percentages for our services which areFood, breakfast and evening mealBedFree barTransport, from the airport and to the pistesThank you in advance for any inputSam Edwardswww.chaletwensam.com Link to comment Share on other sites More sharing options...
Teamedup Posted September 18, 2004 Share Posted September 18, 2004 There have been some postings recently about the 'transport' too and from airports etc. Just make sure that you will be able to do that legally etc etc here. Link to comment Share on other sites More sharing options...
sam in france Posted September 18, 2004 Author Share Posted September 18, 2004 When with the accountant he sugested we register to be able to provide transport IE pick ups from the airport and also lifts out to the piste He said that if we did this we would be able to pick customers for other chalets thenRegardsSam Link to comment Share on other sites More sharing options...
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