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Own goal by Goals Soccer Centres?
29 March 2019
Football pitch operator Goals Soccer Centres was recently forced to suspend trading in its shares following a “substantial mis-declaration of VAT”. We are talking £12m substantial!
The firm has now entered in direct discussions with HMRC to try to solve the problem.
The accounting error was discovered at the beginning of March and there was concern that it could not quantify the full extent of the unpaid tax liability.
The mis-declaration goes back several years, and the worry is the final figures could be even more than the £12m currently being quoted.
A tax expert explained that while occasional bookings are liable to VAT, block bookings for 10 or more games are VAT-exempt. The same is true of participation of teams in five-a-side leagues. A Goals spokesman said that the Vat issue goes beyond league and block bookings.
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