sam in france Posted September 16, 2004 Share Posted September 16, 2004 I have posted this question in the b and b thread but i thought it might be worth trying this area as wellMy wife and i own a ski chalet and we dont know how best to move forward with our business, 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 experiencesRegardsSam Edwardswww.chaletwensam.com Link to comment Share on other sites More sharing options...
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