A VAT DISPUTE has hit Goals Soccer Centres’ sales figures.
Sales increased by 9% to £30.3m at the football leisure venues business, with like for like sales up 1%.
However, an ongoing argument with HMRC over standard rate VAT being charged on block bookings of pitches has resulted in overall like for like sales falling 2%.
The VAT issue is expected to be resolved in the Spring.
Goals has also agreed a new four year banking agreement with Bank of Scotland, totalling £56m.
The deal comprises a revolving credit facility of £38m, a term loan of £16m and an overdraft facility of £2million.
These facilities have been negotiated at “competitive market rates”, said Goals, adding that it would provide the company with the “financial flexibility to meet our growth aspirations”.
Does Darwin's theory apply to taxation? Colin ponders...
The UK tax gap fell in 2014-15 to its lowest-ever level of 6.5%, revealed official statistics published today
Changes to the tax system is urged to support the growth of entrepreneurs, found a report from the Grant Thornton UK, the Institute of Directors, and the Prelude Group
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states