Show bosses set for VAT windfall

The organisers of Shropshire's West Mid Show could be in line for an £50,000 windfall after paying out too much on VAT, it was revealed today.Specialist accountants have told officials that they had paid more than £30,000 too much between 1973 and 1992.

David Tudor, departing chairman of the Society, who officially stepped down at a meeting last night, said that because of high interest rates over the period they could be owed up to £50,000.

Mr Tudor said: "We have been in discussions with specialist accountants Baker Tilly who have gained acceptance from Customs and Revenue that over £30,000 of VAT paid by the Society between 1973 and 1992 should be repaid to us.

"They are presently in discussions with Customs and Revenue about the level of interest due on this sum. It could be another £20,000 in interest because in the 1980s which covers a lot of that period the interest rates were 10 to 15 per cent per annum."

The cash will also be used to repair a leaking roof between two sections of the members' pavilion at the showground.