Peter Jenkins and David Neal of Ernst & Young LLP look at the current VAT pitfalls and opportunities that arise in the area of charity fundraising
Charities use a wide variety of different methods to raise money to aid the good causes they exist to promote but a lack of forethought can lead to VAT impacting in undesirable ways. There is no general relief from VAT for charities although a number of specific reliefs are intended to enable charities to gain the most benefit from moneys that they raise and spend.
However it should be a major priority of charities to ensure a VAT-efficient approach is taken to their fundraising methods in order to avoid what can be the many pitfalls and traps that await the unprepared good cause....
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Peter Jenkins and David Neal of Ernst & Young LLP look at the current VAT pitfalls and opportunities that arise in the area of charity fundraising
Charities use a wide variety of different methods to raise money to aid the good causes they exist to promote but a lack of forethought can lead to VAT impacting in undesirable ways. There is no general relief from VAT for charities although a number of specific reliefs are intended to enable charities to gain the most benefit from moneys that they raise and spend.
However it should be a major priority of charities to ensure a VAT-efficient approach is taken to their fundraising methods in order to avoid what can be the many pitfalls and traps that await the unprepared good cause....
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
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