Just a quick reminder that all claims for input tax not recovered or output tax overpaid anytime before 1 May 1997 and 4 December 1996 respectively, known as Condé Nast/Fleming claims, must be received by HM Revenue and Customs by 31 March. Claims for these periods received after this date will be refused.
From 1 April 2009, any claims for input tax not recovered or output tax overpaid will be restricted to 3 years until 1 April 2010 when the time limit will be increased to 4 years, to bring it into line with the time limits for other taxes and the time limit for issuing assessments.
This opportunity applies to all overpayments or underclaims of VAT, so any claims submitted to HMRC since 1997 will be worth revisiting. However, other areas worth particular thought are:
- VAT incurred on share issues or floatations
- claims for VAT on mileage rates paid to employees
- Golf club subscriptions and green fees
- Bingo halls that had income from mechanised bingo (s.14) games
- Museum & Theatres - Cultural exemption & partial exemption attribution
- Opticians that did not recover over declared VAT following the Leightons Case in 1995
- Charities that incurred VAT on fundraising activities
For further advice and assistance, please contact us on 0121 452 1515 or speak to your regular BTG VATease contact.
