VAT’s it all about

This is a short piece about VAT as we want to collect some of your experiences with tax, and as it is a topic that has crossed my desk a few times over the last couple of weeks.

Picture used under licence

Like most small charities we are not VAT registered and therefore do not claim any VAT back, and honestly don’t really think about it. But it appears that once parliament has settled back into some semblance of normalcy after the election there will be some reform of VAT in a bid to make tax simpler. (Apparently the UK tax codes are longer than the bible).

We do know that VAT and other tax issues do cause concern for charities and we are lucky that we have the Charity tax Group who do a wonderful job of representing charities on all things ‘tax’. Do check out their information if you have any issues. They are also carrying out some research into VAT which you can find out more about here.

We have recently made contact with a local company VATadvice.org who specialise in VAT for charities. We are looking at how we can work together to bring more information to local charities. At this stage we have no firm plans apart from agreeing to continue to chat but

This brings me to the principle reason for this article. Is VAT an issue for you? Are you registered and if so how much work does it entail? Do you know what counts as VAT able when working out if you have reached the registration threshold? Are contracts subject to VAT? How does it work if we own a building?

Please tell us about your issues and questions about VAT are, this will allow us to get a feel for what we might be able to explore. We can’t promise to answer everything, but we will start to think about how we can provide members with more information, and possibly training in this area.

Contact us in the usual way or leave a comment.

1 thought on “VAT’s it all about

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s