Helen Donoghue, Director of the Charities' Tax Reform Group, outlines the problem that the VAT system creates for charities and describes the work of CTRG
Helen Donoghue Director of the Charities' Tax Reform Group outlines the problem that the VAT system creates for charities and describes the work of CTRG
Charities benefit enormously from the range of tax incentives on giving to charities particularly Gift Aid. What is not often understood is that charities incur substantial amounts of tax when they spend the money that is generously donated to them. It is estimated that irrecoverable VAT which goes straight to the Exchequer currently costs charities at least £500 million a year.
The problem stems from the way that VAT works. Charities that provide services free of charge...
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Helen Donoghue, Director of the Charities' Tax Reform Group, outlines the problem that the VAT system creates for charities and describes the work of CTRG
Helen Donoghue Director of the Charities' Tax Reform Group outlines the problem that the VAT system creates for charities and describes the work of CTRG
Charities benefit enormously from the range of tax incentives on giving to charities particularly Gift Aid. What is not often understood is that charities incur substantial amounts of tax when they spend the money that is generously donated to them. It is estimated that irrecoverable VAT which goes straight to the Exchequer currently costs charities at least £500 million a year.
The problem stems from the way that VAT works. Charities that provide services free of charge...
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:
