Setting up a Bed and Breakfast in South Africa - by David J Phillips CEO of Automatic Accounting
So you have converted your spare room and decided to set up a Bed and Breakfast.
All seems easy until you start thinking about the financial and administrative issues.
Should I set up a company? What records must I keep? What do I tell the taxman? What statutory requirements must I comply with?
If you don’t sort these issues out at the outset, your ideas to make a little spare cash may backfire into a smoldering mass of bureaucratic difficulties that will make you wonder why you ever started.
So what are the issues?