V.A.T. is here!

The Society is now registered for V.A.T. and will be adding the tax to all its transactions.

The Society finally registered for V.A.T. last year on 1st October and will now be adding the tax to all its transactions.

This means it will be able to claim back V.A.T. on all its taxable expenditure, but will also have to add V.A.T. to its invoices to members. Those who are already registered themselves will be able to claim this back, but unregistered members will unfortunately be slightly worse off.

Members are still sending in cheques in advance payment of registrations, transfers, etc. and if they have not added V.A.T. to this the Society will have to invoice them for the V.A.T. separately. The new computer system issues invoices as it processes registrations, transfers and subscriptions, so it is best to wait until you receive the invoice before sending payment.