In 2011 our auditor advised we contact our accountants and register for VAT. On registering for VAT our client members took a terrific hike in charges for our services and for some of them is has taken a long time to recover from this imposition.
Over the last few years, we have been trying to develop a “VAT Sharing Group” which is a concept that was developed by the European Union but ignored by HMRC until they were threatened with legal action.
In 2015 we engaged Kreston Reeves to develop an application to HMRC for a VAT Sharing Group which would have removed the VAT burden from our clients. 80% of our application was accepted and we are continuing to work on ensuring the last 20% meets HMRC requirements.
Interestingly a quite separate VAT expert at Kreston Reeves has suggested that we should never have been VAT registered in the first place.
Be assured one way or another we are determined to remove the VAT imposition and free our members to grow and develop.