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NEIL WARREN considers some of the VAT issues relevant to hotels and bed and breakfast establishments
KEY POINTS
- Reasons why a new hotelier should opt to tax
- Separating off one part of the business should be undertaken with care
- When are room rentals exempt from VAT?
- VAT treatment of cancellation charges
- The flat rate scheme can be beneficial but beware expensive building works
I shared the problems encountered by my good friend John Smith in my article VAT or no VAT? (see Related Links above).
He had a host of VAT issues to resolve in relation to his work for overseas customers i.e. VAT on international services.
Unfortunately the VAT problems got the better of John: he has decided on a dramatic mid-life career change… and bought a hotel!
But would you believe it he has even more VAT queries to resolve with the hotel which...
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