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I bought a football season ticket which came with a promise of a 25% refund if the club did not perform to a agreed level.Having failed to reach that level the club are to refund 25%.Is it correct that VAT is deducted before the 25% or would the club claim the VAT back?
eg Initial cost £445 - 20%VAT = £370.83 so refund is £370.83-25%
Thanks
eg Initial cost £445 - 20%VAT = £370.83 so refund is £370.83-25%
Thanks