Calculating VAT can be an incredibly complicated process for charitable organisations. Therefore, it is no surprise that mistakes are commonly made among charities that fail to recognise they are applicable to many of the same rules as regular businesses. Further to this, The Office of Tax Simplification has initiated a review into the application of VAT with respect to reliefs and exemptions and as a result the House of Commons Treasury Committee has launched an inquiry into tax after coronavirus.
Source: thevatpeople.co.uk
