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NEIL WARREN considers some of the VAT challenges facing charities and opportunities for saving tax
KEY POINTS
- Voluntary VAT registration can be beneficial
- Advertising supplies to charities are zero rated
- Income from fundraising events are exempt
- Take care with VAT status of council grants
In a previous article (VAT meets B&B) I shared John Smith's experiences of owning a hotel (he had a feast of VAT problems to deal with).
He also directed a computer consultancy and surveying business when he had sleepless nights worrying about the place of supply rules in relation to his work for overseas customers.
However these past ventures have been so successful that John has decided to put something back into society and has become the chief executive of an animal charity. But needless to say VAT problems are back on the agenda.
In this article I will consider some of the practical VAT...
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