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Good day,
We have recently been required to charge our guests 6% vAT for our holiday home. This also means that it is possible to recover vAT.
When renting out the property, we charge an amount of €300 as a deposit. This is refunded to the tenants immediately after the rental period. The deposit is exempted from VAT (0%) and has no impact on the vAT declaration. However, the deposit distorts the turnover figures. Do I need to issue credit notes to write off this deposit? And if so, can this only concern part of the original invoice? The accommodation costs and VAT must, however, be calculated as normal.
I hope I have been clear enough in my question. Thank you in advance.
Kind regards,
Pieter