In recent weeks the Society has been reviewing the way it pays and claims VAT, a complicated and technical function with regards to its financial obligations.
To ensure that everything was transparent the Society has worked very closely with Customs and Excise in the matter, and during this whole process they have provided invaluable advice and support.
A resolution has now been found and together both parties have established a new way of calculating liabilities and preparing VAT returns based on the complexities of vatable, exempt and items not acknowledged by the VAT system. The Society and Customs and Excise, having established a solid mutual relationship, will continue to work closely with each other as this has been a steep learning curve for all parties involved. This will ensure the avoidance of such errors going forward.
Although an historic liability has been highlighted, Customs and Excise have not imposed any penalties as the error was an innocent one. In addition, the Society has sufficient reserves to cover the balance, along with any payable interest, which has now been finally settled with Customs and Excise.
In closing, the Society would like to state that throughout this whole process the welfare of the animals under its care, and its associated services, have not been affected. If any parties would like to have any further information on the matter then please contact the ManxSPCA via email at email@example.com.