A quick newsflash for some of our UK readers:
Following the First-Tier Tribunal decision in the case of The Bridport and West Dorset Golf Club Limited, HMRC has, not unexpectedly, decided to appeal. The following warning has been issued:
“HMRC consider that businesses should continue to follow the guidance in Notice 701/45 Sport and standard-rate these types of supplies made to non-members of a membership club. Should any golf clubs decide to exempt their green fees on the basis of the First-Tier Tribunal’s decision, HMRC will assess the underdeclared tax and enforce the assessments. Penalties may also be applicable in such cases.”
This news apart, GBN.com brings you even more great stories this week than ever before. Enjoy!
Geoff Russell, Editor