Tax Break Boost For Golfers
Page last updated at 2:30 pm, Sunday, December 12th, 1999
Golf club professionals throughout the country are missing out on thousands of pounds in reclaimed VAT for golf lessons, reveals chartered accountants BKR Haines Watts.
Following research among a number of golf professionals the firm found that many are unaware that VAT is no longer applicable to golf lessons. The result is that many professionals are still needlessly paying the 17.5% levy. The tax break could lead to significant VAT refunds as well as future savings.
BKR Haines Watts VAT specialist Terry Parkinson said, “golf professionals can earn several thousand pounds per year from providing lessons. Removing VAT from the lessons will boost their earnings considerably as they can keep more of their profits. However, because of this situation, they could be urged by many to reduce the price of the lessons which is good news for avid golfers looking for expert tuition.” BKR Haines Watts has office throughout the UK. Telephone Hilary Burn 0191 281 8833.