Sayer Vincent on VAT on charity wristbands

first_imgHowever, if a charity sells wristbands at a fixed price then this constitutes for VAT purposes a taxable supply, and wristbands will be standard-rated.There is one ray of light on the latter situation. Sayer Vincent add that “at present it would seem that the extra-statutory concession on the purchase of fundraising goods does not apply to wristbands. ” However, it reports that the “Charities’ Tax Reform Group is in discussion with HMRC to try to get the concession extended.” Sayer Vincent on VAT on charity wristbands In their latest email newsletter consultants and auditors Sayer Vincent offer advice on whether VAT is due on charity wristbands.Coloured wristbands are one of the most popular awareness and fundraising tools being used at present, but their VAT status is not straightforward, say Sayer Vincent.Only if the wristbands are freely available, whether or not a donation is made for them, is no VAT due on the money given. This is even the case, say Sayer Vincent, if a particular level of donation is suggested. Advertisement AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2 About Howard Lake Howard Lake is a digital fundraising entrepreneur. Publisher of UK Fundraising, the world’s first web resource for professional fundraisers, since 1994. Trainer and consultant in digital fundraising. Founder of Fundraising Camp and co-founder of GoodJobs.org.uk. Researching massive growth in giving.center_img Howard Lake | 17 May 2005 | News Tagged with: Finance Trading  35 total views,  1 views today AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to LinkedInLinkedInShare to EmailEmailShare to WhatsAppWhatsAppShare to MessengerMessengerShare to MoreAddThis2last_img read more