[foundation-board] VAT disclosure update

Wed Oct 1 17:46:54 UTC 2014

*The VAT site audit went smoothly and we were told the disclosure
calculations were accepted and the penalty would be suspended - a good
result. We have now had a follow up to say that because we voluntarily
disclosed and were accommodating to the inspector, the penalty will be
mitigated to nil.  So we will only need to pay the VAT we overclaimed. The
liability set in the accounts will be updated before we file for the
year. Best, Laura*
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