UK Karting - Notice Board (General Karting) : Re: Kart Clubs

Notice Board (General Karting)

Re: Kart Clubs - Are they VAT registered?
Posted by 'AlfieMoon' on 04 Oct 2011 @ 12:46

| View Message Thread | Reply to this message |

AlfieMoonJoined: October 2003
Total Posts: 2
[ View User Profile ]

I would strongly advice against voluntarily registering for vat. Assuming anyone on the committee is willing to administer it, their successor probably will not. Subscriptions and memebrship fees do not attract vat anyway and if you were thinking of trying to recover 20% vat on any building/improvment work, I do not think it would be worth it. Clubs are a "not for profit" organisation usually and getting entangled with HMRC could prove quite costly. Don't confuse outside the scope of VAT (or no VAT) with exempt supplies. Exempt means no VAT is charged nor reclaimed. Outside the Scope means no VAT is charged but input tax MAY be reclaimed if certain rules are met.You cannot sponsor your Son/Daughter in karting either and take the money from the company. Get caught by the awkward HMRC man and you will regret it. I hope I am right with the above information.

Message Thread:

Kart Clubs - Are they VAT registered? by 'Dunny' (03 Oct 2011 @ 21:04)

Re: Kart Clubs - Are they VAT registered? by 'SimonS' (03 Oct 2011 @ 22:49)

Re: Kart Clubs - Are they VAT registered? by 'Graham S' (03 Oct 2011 @ 22:49)

Re: Kart Clubs - Are they VAT registered? by 'buzzinrussell' (04 Oct 2011 @ 12:02)

Re: Kart Clubs - Are they VAT registered? by 'Newshound' (04 Oct 2011 @ 12:08)

Re: Kart Clubs - Are they VAT registered? by 'AlfieMoon' << You are here!

Re: Kart Clubs - Are they VAT registered? by 'buzzinrussell' (04 Oct 2011 @ 13:45)

Re: Kart Clubs - Are they VAT registered? by 'davidmc' (04 Oct 2011 @ 14:57)

Re: Kart Clubs - Are they VAT registered? by 'SteveBarlow' (04 Oct 2011 @ 22:57)

Re: Kart Clubs - Are they VAT registered? by 'richydehav' (05 Oct 2011 @ 7:49)

Re: Kart Clubs - Are they VAT registered? by 'DavyBoy' (05 Oct 2011 @ 8:11)

Post a Reply:

You may post a direct reply to this message which will appear in this thread.
To post a new or unrelated message use This Form. Top of Page
Notice Board Index

[ UK Karting Main Index ]


News	Karts & Karting	Notice Board	Market Place	Companies Directory	Tracks Directory	Events Calendar	Race Results	Photo Gallery	Links