The BBC reported this week that the boss of Britain’s largest gym chain is calling for the government to remove VAT from gym memberships in a bid to improve the nation’s health.
Humphrey Cobbold, the CEO of Pure Gym – which has over 200 gyms across the country, claims that price is the single most important factor when people decide whether or not to join a gym.
With so many people facing health issues that could be combatted with regular exercise, joining a gym is a great way of getting fit physically and mentally, and then staying in shape – so keeping membership prices low certainly could influence decisions to sign up to a gym. And we agree that the extra 20% VAT could be the crunch deciding factor.
Humphrey Cobbold told a radio show that, “It seems a little bit strange for the government to tax [going to the gym] at 20% when we want more people to be doing it.”
The Treasury has replied that its hands are tied by European Union VAT rules. VAT is not charged on sports activities delivered on a non-profit basis, so if a gym doesn’t make a profit, its members don’t pay VAT on membership fees. However, profit-making gyms, like Pure Gym with its million members, are forced to charge VAT.
It’s estimated that one in seven people in the UK is a member of a gym. If you’re one of the other six, would a price reduction encourage you to sign up? Here at Nordens, we’re campaigning for fitter staff. For our Fit Fridays initiative, we go on a 30-minute walk together each week to get in shape while raising money for charity. There’s no VAT on charitable donations, so if you fancy joining us on any Friday just give us a call on 020 8530 0720 and we’ll tell you where to meet.
At Nordens, we're more than just accountants - we're business experts who can help you achieve your biggest goals.
Our specialist strategic division at Nordens boasts some of the leading entrepreneurial business minds in the country. We cater towards delivering consistent success stories, whilst helping businesses achieve above and beyond their initial goals.
Through highly-tailored guidance, coaching and advice, Nordens Strategic are able to define exactly how your business can reach new levels of success.
Regardless of how you define ‘success’ for your business, our strategic service is guaranteed to bring about real and lasting change. By partnering with some of the UK’s top business coaches, we’ll steer you along the path to a greater future.
Every business, no matter how big or small, needs to make the right decisions, and how to best manage your accounts can put huge question marks over your business. Accounting2You is here to take that pressure off and provide you with all the answers you need.
Our bookkeeping branch offers a fully inclusive, comprehensive service that you can trust. Since 2005, our specialist bookkeepers have been successfully managing the accounting of both individuals and small businesses.
With experts in payroll analysis, credit control and financial recording, Accounting2You will lead your business efficiently, and with real purpose, towards a prosperous future.
Voted as EXCELLENT - 9.9 out of 10 based on 164 reviews
We've always got our ears to the ground when it comes to interesting, useful and topical information relating to business and accountancy.
We love making videos that break down convoluted accountancy jargon into plain-talking, actionable and accessible facts.
In November 2002, having sold our other business interests off earlier in the year, I decided to set up Nordens Chartered Accountants. The easy part was knowing how to do it, as I had established and built a smaller practice a few years earlier. The difficult part, for me, was not following the traditional accountancy path. Having run businesses, both successfully and unsuccessfully, I wanted to help business owners resolve their short term problems and work with them to achieve their longer term goals. Business has always been my interest and I love that I can help business owners achieve what seems like the impossible every single working day.
Our limited company accountants have a range of qualifications from The Institute Of Chartered Accountants (ICAEW) to the Association of Chartered Certified Accountants (ACCA). We worry about the bye-laws, regulations and ethical guidelines of the ACCA so you don’t have to! That makes us an ACCA-accredited employer as well as a Professional Passport-accredited one!
At Nordens, we're committed to keeping our clients updated on all things business strategy and news. Each week we update our newsletter subscribers on what really matters in the big bad world of business. That way, you can stay one step ahead!
In celebration of our 18th birthday, we’ve launched our Refer-a-Friend scheme, allowing you to receive a thank you gift from us of up to £1,000 for successfully introducing a new client.
Our team of experts will be in touch to find the very best time to hold a free, no strings attached, one-hour consultation.