Cut Tourism VAT

Cut tourism VAT, boost british jobs

News

Wednesday, 10 June 2015

Reduce Tourism VAT and let our business grow – The Richwood, Torquay

Veronica Pickles and Saida Hammoud are Co-Owners of The Richwood in Torquay. Together they have successfully built up their business, winning the 2013 English Riviera & South Devon Bronze Tourism Award for Excellence in Customer Service. 

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Like many growing tourism businesses they now face the difficult challenge of managing the VAT threshold so that a jump to 20% VAT rate doesn’t damage their business. With a reduced VAT rate they would be able to employ someone locally to help in their Bistro and Bar:

The Richwood is a large licenced B&B (14 rooms; at present only 12 in regular use) with a speciality (Middle Eastern and European) Bistro, games room and seasonal swimming pool/spa.

We are two retired health professionals who took the somewhat risky step of investing their entire resources and assets into the Richwood since 2011. We have built the business up from 0% to an average of 50% occupation p.a. in four and a half years. We have renovated most of this beautiful old Victorian house, reinvesting our takings into the business, step-by-step.

We run the business with the occasional help of local cleaners, a very part time (on call) maintenance man and an equally very part time gardener.

We are now at the point of having to ensure that we stay under the VAT ceiling to ensure that we do not lose 20% of our very hard earned income.

Should VAT be reduced, we would be happy be able to employ someone to help in the Bistro/Bar; we could also sell more rooms as a result, meeting the increasing booking demands. This in turn would bring more money into Torbay AND create more jobs.

Veronica and Saida appeared on Channel 4’s “Four in a Bed” programme, a short clip can be viewed below: 

 

 

 

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