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VAT break for Bed and Breakfast Owners, Hoteliers, Pubs & Restaurants!
Chris Parkin
Gordon Brown helps B&B Owners
Pubs which have accommodation, B&B Owners who also run Bar and Restaurants can thank "Good old Gordon Brown" for an unusual Tax break!
He has set up a flat rate scheme for Value Added Tax, to help small businesses by reducing red-tape.
www.BandBOwner.com can help B&B Owners and Operators check if the scheme fits your situation with this exclusive calculator:
Tax Calculator
Copy of 23 08 04 VAT public.xls
The table above allows to check your current VAT calculations and shows you what savings you could make by switching to the bandbowner new VAT Scheme. Simply:
Enter your sales figure including the tax collected in the top box.
Enter the tax you reclaimed in the next box down.
The final box in that column confirms what you paid in VAT for that period.
Now if you are a B&B or hotel read the top line of the second table, a Pub read the middle line and a Restaurant owner/operator should read the bottom line to establish what you would have paid using the bandbowner recommended new Vat Scheme.
For easy reference we have shown the savings YOU will make in the next box along. If you see a minus figure in front of the amount in that box it means 'no savings'. If it does show a minus figure email me I'd like to take a closer look at your business!
Don't forget you also save on admin charges and we'd be happy to tell you how!