If I bought my leaseback in January 2005, I won't pay back any TVA if I sell it after January 2025. If I don't have a leaseback company for 12 months is that date still January 2025, or does it become 2026 ?
Thanks cordiez I suppose if I got that option I could try going it alone for 12 months and see if it would pay. But then the chance of getting the leaseback company to take me back on board in a year might be very slim.
I have been informed by my accountant that I will need to pay back the 13/20th of the TVA on my apartment now that the apartment is not managed by Residhotel. They have stated that
"It's compulsory that the new management society offers you a commercial lease for at least 13 years in order to arrive to 20 years of activity with the same agreement as Residhotel - this includes 3 of the 4 services:
Reception, breakfast, linen supply and household goods"
I am using a local agent to rent my apartment which by luck has managed to rent my apartment for the whole of the winter season.
Firstly no one offers a commercial lease for 13 years? is there anyway that I can pay back the TVA over the 13 years rather than in one go as I do not have the money available. What happens if I cannot pay?
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cordiez
Residhotel in Administration
18 Février 2013Not sure what exactly you mean here?
Mr_cellophane (non vérifié)
Residhotel in Administration
18 Février 2013If I bought my leaseback in January 2005, I won't pay back any TVA if I sell it after January 2025. If I don't have a leaseback company for 12 months is that date still January 2025, or does it become 2026 ?
cordiez
Residhotel in Administration
18 Février 2013I would of course need to review all the relevant legal
paperwork, especially your lease agreement etc. and carry
out fiscal law searches before being in a position to
categorically advise you on the issue.
However, on the basis of what you describe, if you don't
have a leaseback company for 12 months then the date from
which you can exit the leaseback scheme i.e. break the
lease (subject to appropriate legal notice in the
prescribed form) without VAT penalties would still be
January 2025, not 2026.
Please note that you can sell your leaseback at any time,
as this has no impact on VAT liability: The purchaser
will be required to take over the lease from you. What
can trigger VAT liability is not the sale of your
leaseback, but the breaking or non-renewal of the lease
agreement or 'bail commercial' (in French).
Fabien Cordiez
Disclaimer The information which the writer is
posting on this forum is for informational purposes only
and does not constitute legal advice, or create a lawyer-
client relationship. You should not act or fail to act
based on the information posted on this site without
first seeking appropriate, tailor-made, legal or other
professional advice about your specific facts and
circumstances.cordiez41323.8760300926
closdelacite
Residhotel in Administration
18 Février 2013I have received a rent payment letter for Jan, but no rent. Anyone else?
Can I contact anyone about this?
Mr_cellophane (non vérifié)
Residhotel in Administration
19 Février 2013Thanks cordiez
I suppose if I got that option I could try going it alone for 12 months and see if it would pay. But then the chance of getting the leaseback company to take me back on board in a year might be very slim.
cacooper
Residhotel in Administration
19 Février 2013Thanks Cordiez
ncorps
Residhotel in Administration
20 Février 2013I have been informed by my accountant that I will need to pay back the 13/20th of the TVA on my apartment now that the apartment is not managed by Residhotel. They have stated that
"It's compulsory that the new management society offers you a commercial lease for at least 13 years in order to arrive to 20 years of activity with the same agreement as Residhotel - this includes 3 of the 4 services:
Reception, breakfast, linen supply and household goods"
I am using a local agent to rent my apartment which by luck has managed to rent my apartment for the whole of the winter season.
Firstly no one offers a commercial lease for 13 years? is there anyway that I can pay back the TVA over the 13 years rather than in one go as I do not have the money available. What happens if I cannot pay?
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