[foundation-board] VAT disclosure update
k.christiansen at party.coop
Thu Oct 2 07:09:31 UTC 2014
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From: "Laura James" <laura.james at okfn.org>
To: "OKF Board Mailing List" <foundation-board at lists.okfn.org>, "Martin Tisné" <mtisne at omidyar.com>
Subject: [foundation-board] VAT disclosure update
Date: Wed, Oct 1, 2014 18:47
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.
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