- Consultation on VAT relief for everyday charitable donations to be launched before 23 July 2024
- Currently, firms do not pay VAT on donated goods sold on, but must pay VAT if goods are distributed for free
- Proposed VAT relief aims to encourage businesses to donate everyday items to charity
- Donations that could be included in the relief may include hygiene items, second-hand hotel items, and cleaning supplies
- Various organizations and industry representatives welcome the consultation and hope for a meaningful change to boost charitable work
- Proposed VAT relief will lower the cost of generosity for businesses and incentivize corporate social responsibility
Source: gov.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "United Kingdom"
- Updated Form VAT2: Partnership Registration Now Requires Each Partner’s Date of Birth
- Lowering VAT Threshold Risks Breaching Labour’s Manifesto, Warns Self-Employed Association
- UK Court Denies Casino’s Appeal for Alternative VAT Calculation, Blocking Tax Reduction
- Looking Again At Options To Tax supplies of land or buildings
- High Court Rules Curaçao Bank Unaware of £220m VAT Fraud, Dismissing Liquidators’ Claims
