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Good News from the VAT man

Hard to believe I know but it's true. At the AGM I told members that our expected VAT refund was around £10k on the basis that VAT on course spend was not recoverable. However, a recent VAT Tribunal has reversed this position where golf clubs have buggy hire and tee sponsorship. Fortunately Chesterfield Golf Club has both and our VAT refund is now £42k, including interest, and the money is already in our account!

John Begley, Hon. Treasurer