Charities benefit from significant exemptions in certain areas of taxation – unfortunately VAT is not one of them. Instead they are generally subject to the same rules as any other organisation and due to their mix of business and non-business activities, effectively applying the VAT rules can be even more challenging.
This full-day course will help you make sense of VAT in the context of charities and will leave you in a position to be able to confidently interpret the rules and apply them in a way which reduces its impact on your charity. Crucially, the course will take you through the VAT reliefs and exemptions that are available to charities as well as some of the topical issues that could affect you.
09:30 - 17:00
- A Seminar Pack containing the information presented on the day
- A Certificate of Attendance
What Will You Learn?
- What are the key principles of VAT?
- What are business and non-business activities?
- What is output and input VAT?
- When and how should a charity register for VAT?
- What are the VAT recovery rules for charities?
- What is the impact of generating VAT Exempt income?
- What VAT liability is there on the various income streams for charities?
- What areas generate Exempt income?
- How do you work out the VAT you can recover?
- What VAT reliefs on income are available to charities?
- What VAT reliefs on expenditure are available to charities?
- What are the VAT implications of fundraising?
- When can VAT exemption apply to fundraising?
- What are the VAT rules relating to property?
- What is the impact of Partial exemption on your charity?
- How are charities affected by the Capital Goods Scheme?
- Grants vs Contract – what do I need to know?
Following her time at HM Customs and Excise, Liz worked for Ernst and Young as one of their corporate VAT services directors.
As the owner of Centurion VAT Specialists she now delivers practical VAT support to a diverse range of clients. She also delivers VAT training in the UK and internationally. Liz is a regular VAT speaker at events for professional bodies such as the AAT, ICAEW, ACCA and CIMA.