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A Walk Down the Fairway of Value Added Tax Ian Fleming

A Walk Down the Fairway of Value Added Tax By Ian Fleming

A Walk Down the Fairway of Value Added Tax by Ian Fleming


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Summary

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.

A Walk Down the Fairway of Value Added Tax Summary

A Walk Down the Fairway of Value Added Tax: A Practical Guide to Vat for Golf Clubs by Ian Fleming

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.

About Ian Fleming

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 - [email protected].

Table of Contents

FOREWORD. v

CHAPTER 1: THE STANCE. 1

The Status of Golf Clubs. 1

CHAPTER 2: THE GRIP. 5

The VAT Exemption for competition and entry fees. 5

CHAPTER 3: THE RULES OF GOLF. 7

The VAT Exemption for Sport and Physical Recreation. 7

CHAPTER 4: A BIRDIE OR AN EAGLE. 11

1990 Refunds of VAT. 11

CHAPTER 5: BUNKER PLAY. 13

Partial Exemption. 13

CHAPTER 6: DRIVER OR A NINE IRON. 17

VAT Liability - taxable or exempt?. 17

CHAPTER 7: THE HANDICAP SYSTEM. 21

The VAT Legislation and liability of fees. 21

Meaning of individual. 22

Social Facilities. 22

Artisan Golf Clubs. 23

Governing Bodies. 23

Commercial Influence. 24

Emoluments. 25

CHAPTER 8: MIXED FOURSOMES. 27

Attribution of input tax to taxable supplies - some specific examples of club expenditure 27

The Clubhouse. 27

Bar and Catering. 29

The Course. 31

CHAPTER 9: LOCAL RULES. 33

Less common VAT rules. 33

Gaming Machines. 33

Lotteries. 33

Entry Fees. 34

Value of supplies. 34

Prizes. 35

Letting of Sports Facilities. 36

The Golf Professional 36

CHAPTER 10: AN 18 HOLE PLAY-OFF. 39

Recent decisions of the Courts and Tribunal that materially affect accounting for VAT by members' clubs 39

CHAPTER 11: A VISIT FROM THE ROYAL AND ANCIENT GOLF CLUB 47

How to deal with a VAT inspection. 47

CONCLUSION. 51

APPENDIX A:

Legislation Extracts. 53

EC 6th Directive, Article 13. 53

VATA 1994. 54

Income and Corporation Taxes Act 1988 s. 839. 62

APPENDIX B:

HMRC notices. 65

Customs & Excise Business Brief 3/96. 65

HM Revenue & Customs Budget Notice BN 78 dated 12th March 2008 67

APPENDIX C:

Golf Club VAT cases. 71

EU Legislation. 71

Whether or not a non-profit making body. 75

Recovery of input tax. 78

VAT liability of income. 81

Different classes of membership. 83

Miscellaneous. 83

Default Surcharge Assessments. 87

Index. 89

Additional information

NPB9781907444753
9781907444753
1907444750
A Walk Down the Fairway of Value Added Tax: A Practical Guide to Vat for Golf Clubs by Ian Fleming
New
Paperback
Spiramus Press
2013-02-25
100
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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