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To TVA or not


sam in france

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I have posted this question in the b and b thread but i thought it might be worth trying this area as well

My 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 TVA

Now 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 calculations

The disadvantage being higher accountancy bills

The 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 carrot

If 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 thing

Has anybody got any thoughts based on your own experiences

Regards

Sam Edwards

www.chaletwensam.com

 

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