Changes to VAT 2010
Changes to VAT
VAT will be increased to 17.5% from 31st December 2009 until further notice
All business from 6am on the 1st jan 2010 will be accounted for with the new rate.
The following is an explanation of the most common scenarios experienced..
The 'total amount payable' on your guest a/c records will show the new VAT amount.
DEPOSITS PAID BEFORE THE 1ST JANUARY 2010
If guests had paid a deposit or the full amount before the 1ST JANUARY 2010 VAT . The tax point is the date at which this was paid) - but the accommodation or catering takes place after 31st December 09 – then we have accounted for VAT at 15% on the amount paid before 31st December, and at 17.5% on any balance paid after that.
The hotel accounting software does not have the facility to break out the different rates of vat on deposits in this manner, for the purpose of guest a/cs.
If the customer is VAT registered, and would like a detailed break down then please do not hesitate to contact Miguel Canado Coll, Reservations manager who will be happy to provide a new manual one which shows the detailed break out of vat over the time period for deposits.
The hotel rates are all quoted as inclusive of VAT. whatever the current prevailing rate.
