VAT refunds

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VAT refunds

Post by George1507 on Wed 22 Mar 2017, 1:08 pm

For the second time in about 15 years, HMRC has lost a court battle about VAT being levied at members' clubs. So virtually all members' clubs are in receipt of another cash windfall of (usually) between £100K and £1 million.

It's a great way to make themselves solvent after a tough 8 years, and start some capital spending projects.

As for HMRC, it must be a disaster - hundreds of millions plus accrued interest to be handed over.

Yahoo

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Re: VAT refunds

Post by raycastleunited on Wed 22 Mar 2017, 1:37 pm

HMRC will drag this out as long as possible. They may have lost, but I wouldn't make any plans for the "windfall" until the cash has been received.

I bet the amount to be handed over is less than £100m, and also that it will take them a couple of years to distribute the cash.

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Re: VAT refunds

Post by George1507 on Wed 22 Mar 2017, 5:57 pm

Many of the clubs that have claimed have been paid since the turn of the year. It's happening.

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Re: VAT refunds

Post by McLaren on Wed 22 Mar 2017, 6:10 pm

Reduction in membership fees?
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Re: VAT refunds

Post by super_realist on Wed 22 Mar 2017, 6:15 pm

McLaren wrote:Reduction in membership fees?

Come come Mac, membership fees here are cheap enough. I'm sure you'd prefer 100k or so to be put back into the course than for you to get £30 off your annual subs wouldn't you?

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Re: VAT refunds

Post by McLaren on Wed 22 Mar 2017, 6:17 pm

That is a few weeks bus money. oh yeah
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Re: VAT refunds

Post by raycastleunited on Wed 22 Mar 2017, 7:00 pm

George1507 wrote:Many of the clubs that have claimed have been paid since the turn of the year. It's happening.

Oh really? Good news! My club has a agreed a settlement with HMRC but no cash received yet.

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Re: VAT refunds

Post by raycastleunited on Wed 22 Mar 2017, 7:01 pm

McLaren wrote:Reduction in membership fees?

AGM after-party: Blow it all on champagne, drugs and hookers

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Re: VAT refunds

Post by puligny on Wed 22 Mar 2017, 7:19 pm

Funds received a couple of months ago. £117k - refurb of changing rooms. How dull!!!

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Re: VAT refunds

Post by navyblueshorts on Thu 23 Mar 2017, 8:01 am

raycastleunited wrote:HMRC will drag this out as long as possible. They may have lost, but I wouldn't make any plans for the "windfall" until the cash has been received.

I bet the amount to be handed over is less than £100m, and also that it will take them a couple of years to distribute the cash.
Our place has received nearly £200,000. Not sure why it's 'ours' though and attempts not being made to pay back those visitors who were charged VAT when they shouldn't have been...
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Re: VAT refunds

Post by George1507 on Thu 23 Mar 2017, 8:58 am

navyblueshorts wrote:
raycastleunited wrote:HMRC will drag this out as long as possible. They may have lost, but I wouldn't make any plans for the "windfall" until the cash has been received.

I bet the amount to be handed over is less than £100m, and also that it will take them a couple of years to distribute the cash.
Our place has received nearly £200,000. Not sure why it's 'ours' though and attempts not being made to pay back those visitors who were charged VAT when they shouldn't have been...

That'll be the next thing that happens. I'll bet a few clubs make an appearance in the small claims court in 2017 defending claims from society golfers.

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Re: VAT refunds

Post by dynamark on Mon 03 Apr 2017, 8:46 pm

I remember doing our claim for VAT back about 1995 didn't half help at the with high interest rates at the time .Presume this is to do with visitors fees.
Its not difficult to make a privately owned club into a 'members club' for this purpose and well worth it.

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Re: VAT refunds

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