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Charities set to profit from VAT decision
By Mathew Little, Third Sector Online, 13 February 2008
Charities are calculating potentially large tax rebates after the announcement by HM Revenue & Customs last week that a proportion of VAT costs on investment management fees can be reclaimed by the sector.
The Nuffield Foundation, which successfully appealed for the change of policy, is now negotiating with HMRC on the proportion of VAT it can claim back ( Third Sector , 6 February ). The amount charities can reclaim will depend on the level of their VAT-registered business activities that are subsidised...
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