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Own-Goal!

27th Mar 2019
VAT Consultant vatadvice.org
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(This is one of those stories where headline writers come to the fore! Mine is a bit obvious.)

Goals Soccer Centres plc won a significant Tax Tribunal back in 2012. They successfully argued that they made two supplies: an exempt supply of pitch hire, and a table supply of football league management. No doubt this ensured the end user paid significantly less than had it been treated as a single taxable supply. The decision is here: http://www.bailii.org/uk/cases/UKFTT/TC/2012/TC02253.html

Embarrassingly, the company now admit to serious VAT accounting problems amounting (today) to £12m. https://www.bbc.co.uk/news/business-47718157  Given the four year rule for adjustment of VAT errors, I assume that the announcement refers to periods after those covered by the Tribunal decision. But nevertheless, an unwelcome own goal!

Comment:

Have periodic VAT reviews, and

Don’t tell the media about your VAT problems.

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