How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Your Own Question, Chartered Certified Accountant
Category: Tax
Satisfied Customers: 5113
Experience:  FCCA - over 35 years experience as a qualified accountant (UK based Practitioner)
Type Your Tax Question Here... is online now

I am soon to open a pub, but want nothing to do with the food

This answer was rated:

I am soon to open a pub, but want nothing to do with the food side of things. I wanted to bring in a contract caterer to manage that side of things. All takings food side would be theirs, but I'd charge them 50% of the rent. How would I manage this on one till as I wouldn't want my business (wet side) to pay the food vat?
Thank you for your question..You should have codes on your till that separates your pub sales from food sales.On your daily takings till roll you would have Z totals broken down by category.You should only account for the codes that relate to pub sales as your takings and list food sales separately for two purposes- to satisfy the VAT Office and HMRC that you have accounted for sales properly- to satisfy the contract caterer that there is transparency in your dealing. I hope this is helpful and answers your question.If you have any other questions, please ask me before you rate my service – I’ll be happy to respond.
Hi there, I hope I have addressed all points raised by you. If you are unclear on any aspect, please do come back.
Customer: replied 1 year ago.
Thank you, ***** ***** still unsure on something. I was planning on, as we will only have the one till / card machine - printing out the daily wet/dry figures and the kitchen invoicing me for the total dry amount at the end of each month, along with me invoicing the kitchen for half of the monthly rent. Will this suffice the VAT office?
Thank you for your reply.You would have documentation to support your sales and this would suffice for both the VAT Office and the Tax Office. I hope this is helpful and answers your question.I will appreciate if you would kindly rate my service/accept the service I have provided before you leave the site, to ensure I get credited for it by Just Answer. and other Tax Specialists are ready to help you