Walk Down the Fairway of Value Added Tax

A Practical Guide to Vat for Golf Clubs

AvIan Fleming

Häftad, Engelska, 2013

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Beskrivning

This is a timely update of Ian Fleming’s invaluable guide, first published in 2006.For anyone involved in the administration of golf clubs, and in particular with their finances, grappling with VAT has been a thorny issue ever since it was introduced in the UK in 1973.This book explains the basic rules of VAT as they affect golf clubs. Written for club secretaries, treasurers, finance committee chairmen and accounting practices that have golf clubs as their clients, it highlights many of the most common problems likely to arise in the context of VAT. The author offers practical advice, such as how to avoid an unexpected VAT bill on a refurbishment of the clubhouse.With this book as a reference, it will be easier to avoid the many VAT ""bunkers"" which can create unwelcome and costly traps for golf clubs.The third edition includes a new chapter to cover the consequences of the Bridport and West Dorset Golf Club case and new HMRC guidance.

Produktinformation

Utgivningsdatum:2013-02-25
Mått:152 x 229 x undefined mm
Format:Häftad
Språk:Engelska
Serie:VAT Guides
Antal sidor:100
Upplaga:3
Förlag:Spiramus Press
ISBN:9781907444753

Utforska kategorier

Mervärdesskatt och tullavgifter inom Juridik
Finansiering inom Ekonomi och Ledarskap
Företagsekonomi inom Ekonomi och Ledarskap

Mer om författaren

Ian Fleming spent 26 years with Customs before joining the Armstrong Watson Group of Chartered Accountants in 1989. He retired in 2007 but not before setting up his own consultancy business, Indirect Tax Cumbria, in 2006. He has experience of the full range of customs & excise work, VAT, and the other indirect taxes. He is a Fellow of the Institute of Indirect Taxation and also a Council Member. Ian is also a keen golfer and an active member of his local club. He can be contacted by e-mail - ianfleming@greentaxes.co.uk.

Innehållsförteckning

FOREWORD. vCHAPTER 1: THE STANCE. 1The Status of Golf Clubs. 1CHAPTER 2: THE GRIP. 5The VAT Exemption for competition and entry fees. 5CHAPTER 3: THE RULES OF GOLF. 7The VAT Exemption for Sport and Physical Recreation. 7CHAPTER 4: A BIRDIE OR AN EAGLE. 111990 Refunds of VAT. 11CHAPTER 5: BUNKER PLAY. 13Partial Exemption. 13CHAPTER 6: DRIVER OR A NINE IRON. 17VAT Liability – taxable or exempt?. 17CHAPTER 7: THE HANDICAP SYSTEM. 21The VAT Legislation and liability of fees. 21Meaning of “individual”. 22Social Facilities. 22Artisan Golf Clubs. 23Governing Bodies. 23Commercial Influence. 24Emoluments. 25CHAPTER 8: MIXED FOURSOMES. 27Attribution of input tax to taxable supplies – some specific examples of club expenditure 27The Clubhouse. 27Bar and Catering. 29The Course. 31CHAPTER 9: LOCAL RULES. 33Less common VAT rules. 33Gaming Machines. 33Lotteries. 33Entry Fees. 34Value of supplies. 34Prizes. 35Letting of Sports Facilities. 36The Golf Professional 36CHAPTER 10: AN 18 HOLE PLAY-OFF. 39Recent decisions of the Courts and Tribunal that materially affect accounting for VAT by members’ clubs 39CHAPTER 11: A VISIT FROM THE ROYAL AND ANCIENT GOLF CLUB 47How to deal with a VAT inspection. 47CONCLUSION. 51APPENDIX A: Legislation Extracts. 53EC 6th Directive, Article 13. 53VATA 1994. 54Income and Corporation Taxes Act 1988 s. 839. 62APPENDIX B:HMRC notices. 65Customs & Excise Business Brief 3/96. 65HM Revenue & Customs Budget Notice BN 78 dated 12th March 2008 67APPENDIX C:Golf Club VAT cases. 71EU Legislation. 71Whether or not a non-profit making body. 75Recovery of input tax. 78VAT liability of income. 81Different classes of membership. 83Miscellaneous. 83Default Surcharge Assessments. 87Index. 89