Philippa Booth of the Charity Tax Team at Buzzacott Accountants discusses the concept of business and non-business activity in the context of VAT, and the costs that can result
Philippa Booth of the Charity Tax Team at Buzzacott Accountants discusses the concept of business and non-business activity in the context of VAT and the costs that can result
The normal estimate of irrecoverable input VAT to the charity sector is per the Charities' Tax Reform Group (CTRG) £500 million a year. However this is not the only way a VAT cost can arise. An unplanned liability for output tax if the funding agreement is silent on the matter of VAT or worse contains the dreaded words 'inclusive of VAT' can cause nearly 15% of expected income to...
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Philippa Booth of the Charity Tax Team at Buzzacott Accountants discusses the concept of business and non-business activity in the context of VAT, and the costs that can result
Philippa Booth of the Charity Tax Team at Buzzacott Accountants discusses the concept of business and non-business activity in the context of VAT and the costs that can result
The normal estimate of irrecoverable input VAT to the charity sector is per the Charities' Tax Reform Group (CTRG) £500 million a year. However this is not the only way a VAT cost can arise. An unplanned liability for output tax if the funding agreement is silent on the matter of VAT or worse contains the dreaded words 'inclusive of VAT' can cause nearly 15% of expected income to...
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:
