File: 12-100-7

Scope and Content

Contains material relating to the discussions concerning the necessity of carrying out a review of SSAP5, "Accounting for Value Added Tax". Contains correspondence with Empire Stores regarding their accounting practices in respect of VAT, including a letter from Mr. Stewart Bates of Theodore Goddard and Co., 2 Dec 1980, giving a legal opinion on Empire Stores' position. Contains material relating to special VAT schemes for Retailers, such as: a letter from D.G. Sherriff to K.O. Robinson 4 Nov 1980, on a meeting of the ASC and HM's Customs and Excise on the subject; a manuscript note by R. Munson, 12 Nov 1980, "VAT in the Mail Order Business"; a memorandum, 18 Nov 1980, N.J.C. Barton to R.G. Willott, "Accounting for Value Added Tax. The Mail Order Business"; and a photocopy of "Report to the ASC by the Panel on Special Schemes for Retailers" dated 25 Nov 1980. Contains copy letters, 16 Dec 1980, from K.O. Robinson to D.G. Sherriff [of the panel] and T.R.Watts [ASC chairman] containing a draft letter justifying the ASC's decision not to amend any standards with regard to accounting for VAT, to all groups who made representations to the panel. Contains the reply to the final version of the above draft from Empire Stores, 29 Dec 1980, and the correspondence, Jan 1981, between T.R.Watts and D.G.Sherriff on the ASC's response to their comments. Contains correspondence with individuals on VAT accounting , such as that with T.R. Higginson, Jun-Jul 1983, resulting in a meeting with ASC secretary K.O. Robinson, concerning which there are several memoranda and a file note. Contains copies of letters from the Law Society, Apr-Oct 1983, concerning group registration for VAT, and the resultant series of memos between G.C. Wintle [ICAEW] and K.O. Robinson and B. Singleton-Green [ASC secretariat] Aug 1983-Jul 1984. Contains correspondence with law firm, Linklaters and Paines, and a photocopy of "Notes on a meeting on Disclosure of Group VAT Liability", 31 May 1984 held between the Law Society, Linklaters and CCAB representatives. Contains further correspondence with Linklaters and Paines during Jul-Dec 1986 following the letter of 11 Jul 1986 from P.A.Holgate to the firm announcing the reasons for work on SSAP5 being abandoned.