Successful Year Ahead

THE YEAR 2003 could be an interesting year in the VAT world. Unlike the Ashes cricket series where an even contest is about as unlikely as a rain-free English summer my prediction is that 2003 could be the year when Customs finally come out on top as far as important VAT issues are concerned.

Forget the facts that:

• the Chancellor announced special measures and extra resources to fight VAT avoidance in his pre-Budget report;

• Customs are placing great emphasis on the extra training that they are giving to front-line staff in high profile VAT departments;

• many large firms of accountants are having to trim back VAT resources because of the economic downturn and therefore do not have such big squads to take on...